Soybeans fell in Chicago after a revision of U.S. exports

The U.S. soybean futures market closed lower, reflecting a change in perception about the pace of American exports. According to TF Agroeconômica, the negative movement occurred even after a week of gains for the oilseed on the Chicago exchange. The day ended pressured by adjustments in expectations of international demand, which gained strength after the release of new sector data. Contracts recorded consistent declines. The November expiration fell 1.70%, while January lost 1.96%. In the complex, December meal fell 1.80% and oil closed down 0.20%. The consultancy explains that, although the WASDE report brought largely favorable numbers for American soybeans, the downward revision of 2.97% in exports assumed a determining role in the direction of quotations throughout the trading session. The confirmation of only 332 thousand tons traded with China contributed to the increase in caution. The industry is still waiting until January 2 for the complete update of sales for the ...