Soybeans close lower with demand below expectations

Soybean futures contracts closed lower, reflecting a scenario of weaker demand and external sales below the pace recorded in the previous year. According to TF Agroeconômica, the Chicago market reacted to official data indicating delays in total sales and the loss of competitiveness of the U.S. product in different destinations. At the close of the day, the January soybean contract fell 0.57%, or 6.00 cents per bushel, trading at 1052.25 cents. The March position also registered a decline, by 0.63%, with a loss of 6.75 cents, at 1062.00 cents per bushel. In the soybean complex, meal showed a slight increase, with the January contract advancing 0.07%, to 298.4 dollars per short ton, while soybean oil closed down 0.99%, quoted at 48.11 cents per pound. The negative pressure was associated with the perception that demand for U.S. soybeans falls short of expectations. The latest sales data showed that, despite estimates pointing to significant purchase volumes by China in recent ...