Soybeans close the day on an upward trend

Soybeans traded on the Chicago Board of Trade closed higher on Thursday (7), driven by a good report on foreign sales released by the USDA. According to TF Agroeconômica, the September contract, a benchmark for the Brazilian crop, rose 0.91%, or US$ 8.25 cents/bushel, closing at US$ 974.00. The November contract advanced 0.97%, or US$ 9.25 cents/bushel, to US$ 993.75. In meal, September rose 1.28%, while oil declined 0.41%. The positive movement was sustained by export sales, which registered an increase of 30% compared to the previous week, totaling just over 1 million tons traded between the two crops. China, however, remained absent from the weekly sales and inspection reports, a scenario that keeps the premiums of Brazilian soybeans at high levels, as observed in 2018. This makes American oilseed more competitive and attractive for destinations seeking to negotiate tariffs with the Trump administration. The USDA's weekly report showed that, in the 2024/2025 crop, sales reached ...