Outlook for resumption of official data boosts soybeans

According to a survey by TF Agroeconômica, the soybean contract for November closed up 1.29%, quoted at US$ 11.16 per bushel. The January expiration rose 1.16%, to US$ 11.30. In the derivatives segment, soybean meal for December advanced 0.91%, reaching US$ 320 per short ton, while soybean oil for the same month gained 1.81%, to US$ 50.58 per pound. The consultancy explains that the upward movement was also favored by the expectation of a slight reduction in the production of the American crop, which is approaching the end of the harvest. The lower supply tends to support prices in the coming weeks, especially in the face of the advance of Chinese demand. Although shipments from the United States have grown by 10% compared to the previous week, the accumulated volume for the marketing year remains 42% below that recorded in the same period last year. ...