Tridge summary
Soybeans traded on the Chicago Board of Trade (CBOT) closed higher on Tuesday (28), driven by market optimism surrounding the meeting between Presidents Donald Trump and Xi Jinping, scheduled for this Thursday in South Korea. According to TF Agroeconômica, investors continue to price in a possible agreement that would reignite Chinese purchases of grains, especially soybeans, which could ease the pressure on the sector and support prices in the short term.
Original content
Soybeans traded on the Chicago Board of Trade (CBOT) closed higher on Tuesday (28), driven by market optimism surrounding the meeting between Presidents Donald Trump and Xi Jinping, scheduled for this Thursday in South Korea. According to TF Agroeconômica, investors are continuing to price in a possible agreement that would reignite Chinese purchases of grains, especially soybeans, which could ease the pressure on the sector and sustain prices in the short term. The November soybean contract rose 1.05%, or 11.00 cents, closing at $1,078.50 per bushel. The January expiration advanced 0.97%, or 10.25 cents, to $1,095.50. In the complex, soybean meal for December appreciated by 2.78%, quoted at $306.50 per short ton, while soybean oil for the same month declined 1.00%, standing at $50.26 per pound. Analysts note that any diplomatic progress between the two powers could stimulate the resumption of Chinese imports and reinforce market appetite. American analyst Bryce Knorr highlighted ...
Source: Agrolink
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