USA: Soybeans reverse the trend, strengthen and close trading this Wednesday higher on the Chicago Stock Exchange

Soybean futures traded on the Chicago Board of Trade put profit-taking aside and rose again on Wednesday's (25) trading session, closing on the positive side of the table. Prices rose and closed the day with increases of 11 to 11.50 points in the most traded contracts, with November returning to US$ 10.53 and May to US$ 10.97 per bushel. Soybean grains were partially supported by the rise in oil, which rose more than 1.5% among the most traded contracts on the CBOT. "The strength of oil was due to the seasonal drop in processing and biofuel stocks in the US," explained the Agrinvest Commodities team. In addition, changes expected in biofuel policies in the US also weighed. "Democrats and Republicans will introduce a bill to block subsidies for biofuel producers who use raw materials produced outside the US. What the Midwest wants is to block the large influx of UCO (Used Cooking Oil) and imported tallows and greases, which has only been growing," the consultancy explains. "If this ...