Soybean futures close mixed in Chicago with firm domestic demand

Soybean futures traded on the Chicago Board of Trade (CBOT) closed mixed on Wednesday (22), reflecting the balance between the strength of domestic demand in the United States and expectations of a record crop in Brazil. According to TF Agroeconômica, the November contract rose 0.39% or 4.00 cents/bushel, quoted at US$ 1,034.75, while the January contract advanced 0.14% or 1.50 cents/bushel, to US$ 1,050.00. In the complex, soybean meal for December rose 1.08% to US$ 290.00/short ton, while soybean oil fell 1.15% to US$ 50.07/pound. According to AgMarket.net hedge strategist Jason Meyer, oilseed prices are experiencing an "interesting moment." Although China has not yet intensified purchases of the new American crop, strong domestic processing and growth in exports to other destinations have helped to sustain prices. In addition, the slow sales by U.S. producers have contributed to an improvement in the base levels in the physical market. The United States has been seeking to ...