Soybeans close higher in Chicago

Soybeans closed higher on Thursday (17) at the Chicago Board of Trade (CBOT), reflecting the strengthening of domestic demand in the United States and new uncertainties about trade with China. According to an analysis by TF Agroeconômica, the November contract rose 0.42%, or 4.50 cents/bushel, closing at US$ 1,010.75. The January contract advanced 0.41%, to US$ 1,028.50. In the derivatives segment, soybean meal for December rose 0.36%, to US$ 276.9/short ton, while oil for the same month increased 0.14%, to US$ 50.87/pound. According to the consultancy, the appreciation movement was sustained by a report on milling that brought momentum to the market, after a weaker performance the previous day. The domestic demand in the United States remains heated, with a strong pace of processing. However, doubts still persist about the impact of the recent trade tensions, especially after the possibility of the U.S. government suspending the purchase of cooking oil from China. Despite the ...