Soybean Closes Trading Session Down

Soybean trading on the Chicago Board of Trade closed Tuesday's session (15th) lower, influenced by climatic and economic factors in the United States. According to TF Agroeconômica, the August contract, a reference for the Brazilian crop, dropped 0.60%, or -6.00 cents per bushel, closing the day at US$ 995.00. The September position also fell 0.60%, quoted at US$ 987.25. In the derivatives market, soybean meal for August declined 0.90% (US$ -2.40), closing at US$ 265.3 per short ton, while soybean oil rose 0.72% (US$ +0.39), ending at US$ 54.56 per pound-weight. The main factor for the price drop was a 4 percentage point improvement in the classification of the American crop, surpassing market expectations and signaling a potentially robust production in the country. Despite the decline in grains and meal, soybean oil benefited from good demand and a favorable biodiesel scenario. NOPA (National Oilseed Processors Association) reported a record crush of 5.05 million tons in June, ...