In Chicago, soybeans fell to the lowest values in seven weeks and the local market remains without a reaction.

Soybeans fell again in the Chicago market and reached values not seen in seven weeks. The January position closed at US$393.80 per ton, a drop of US$1.38 from Friday and the lowest level since October. The price is pressured by a combination of external factors — lower purchases from China, lack of definitions in the United States on biofuels, and very good production prospects in South America, especially in Brazil — and that scenario also failed to generate a positive impact on the local market, where values remain without significant changes and operations remain calm. In the local market, meanwhile, the January position of the oilseed in the futures market closed at US$345, down US$0.50, while the available soybean was traded at $500,000 per ton, $2,000 less than in the previous session. Additionally, this Tuesday the Central Bank announced a new phase in the monetary policy with exchange rate bands with the monthly update of the exchange rate bands according to the latest ...