Soybeans closed lower on the Chicago Stock Exchange, motivated by the advance of planting above the historical average, according to information released by TF Agroeconomia. “The Soybean contract for July 23 closed down -1.40% or $-18.75 cents/bushel at $1322.50. The quote for November 23, the main trading date in the US, closed down -0.77%, or $-9.25 cents/bushel at $1187.75,” he comments. “The May 24 quote closed down -0.58% or $-7.00 cents/bushel at $1205.00. July Soybean Meal contract closed down -1.41% or $-5.8 ton short at $406.4 and July Soybean Oil contract closed down -2.07% or $ -1.01/pound at $47.76”, he adds. Soybeans closed down, contrary to their peers on Tuesday. “The USDA announced the day before, after the close of the session, that 66% of the intended soybean area has already been sown in the US, above the historical average of 52% for the same period. The rapid advance of planting was not compensated by the weather, as happened with corn, because the droughts ...
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