Soybeans Fall on Chicago Board of Trade

Soybeans closed lower on the Chicago Board of Trade (CBOT) this Thursday, pressured by export sales far below market expectations, according to TF Agroeconômica information. The July contract, a reference for the Brazilian crop, fell -0.79% or $ -8.25 cents/bushel, closing the day at $ 1,042.25. The August contract dropped -0.43% or $ -4.50 cents/bushel, closing at $ 1,041.00. Soybean meal for July had a slight increase of 0.10% or $ 0.3 per short ton, quoted at $ 294.5, while soybean oil fell -0.85% or $ -0.41/pound-weight, closing at $ 47.61. The decline reflected a scenario of increased global supply and weak export data in the US. The USDA did not bring relevant changes to American soybeans but raised global grain availability. This combination reinforced the negative impact of the tariff war initiated by the Trump government, which continues to affect US external sales, especially without the Chinese presence. Conab revised the Brazilian crop upward by 1.28 million tons, ...