Soybean futures closed higher on the CBOT in August.

The soybean market in Chicago (CBOT) ended August with a strong appreciation, influenced by weather concerns in the United States, the world's largest producer. According to TF Agroeconômica, the soybean contract for September, a benchmark for the Brazilian crop, closed up 0.83% at US$ 1,036.75 per bushel, while the November contract advanced 0.62% to US$ 1,054.50. Soybean derivatives had distinct performances: meal for September fell 0.94%, quoted at US$ 283.60 per short ton, while oil dropped 0.54%, closing at US$ 51.47 per pound-weight. The appreciation of the grain was driven by the lack of rainfall in the American agricultural belt, which may compromise productivity, and also by external demand that offset the drop in official Chinese purchases. Despite the daily rise, the week recorded a decline: the soybean contract for November lost 0.38% (-US$ 4.00/bushel), meal fell 1.7% (-US$ 4.9/short ton) and oil retreated 5.9% (-US$ 3.24/pound-weight) in the October contracts. This ...