Soybeans retreated in Chicago with focus on global demand.

Soybeans closed lower again on the Chicago Stock Exchange, mainly pressured by uncertainties regarding global demand and the advancement of the South American harvest. According to TF Agroeconômica, the market reacted to a set of factors that reinforce the bearish bias in the short term, despite the complex still registering positive performance in the year-to-date. The January soybean contract fell 1.51%, closing at US$ 10.30.50 per bushel, while the March expiry fell 1.39%, at US$ 10.47.50. January soybean meal closed down 0.74%, priced at US$ 294.5 per short ton, and soybean oil fell 1.76%, at US$ 48.07 per pound. Despite the recent pressure, soybeans have accumulated a 4.3% increase for the year, which could represent the first annual gain in three years. In the same period, meal has fallen 4% and oil has risen 23%. Among the pressure factors, favorable weather in Brazil continues to influence the market. The Brazilian production projection was raised to 178 million tons, ...