Pressure falls on soybeans with limited demand

Soybeans traded on the Chicago Board of Trade closed lower, reflecting concern over the absence of new Chinese purchases since last Friday. The market is closely monitoring the slow pace of negotiations at a time considered crucial for fulfilling the recently announced commitment of 12 million tons. The lack of progress has increased the perception that the target may not be met, which is pressuring prices in a scenario already marked by the lower competitiveness of U.S. oilseeds. The January contract fell 0.29% to 1124.75 cents per bushel, while March retreated 0.26% to 1135.00 cents. In the derivatives segment, meal for December lost 0.80% and closed at 308.6 dollars per short ton. Soybean oil showed the opposite movement and advanced 0.56%, ending the day at 52.35 cents per pound. Analyses indicate that estimates of Chinese purchases range between 18% and 33% of the total forecast, a pace insufficient to meet the target on time. The price difference between U.S. and Brazilian ...