Soybeans retreat in Chicago with weak exports

Soybeans closed lower on Tuesday (22) at the Chicago Board of Trade (CBOT), reflecting the market's frustration with the weak performance of U.S. exports and the weakening optimism about a possible advancement in trade negotiations between the United States and China. According to TF Agroeconômica, the November contract fell 0.10%, quoted at US$ 1,030.75 per bushel, while the January expiration declined 0.14%, to US$ 1,048.50. In derivatives, soybean meal for December showed a slight appreciation of 0.67%, closing at US$ 286.90 per short ton, while soybean oil of the same expiration fell 1.29%, quoted at US$ 50.65 per pound. The movement marks a price adjustment after days of support from the positive sentiment surrounding a possible trade truce, reinforced by recent political statements in the United States. However, concrete data shows a more challenging scenario. According to TF Agroeconômica, about 73% of U.S. soybeans have already been harvested, according to a Reuters ...