Chicago reacts after sign of truce between USA and China, but Brazilian market has little liquidity and few price changes
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The Brazilian soybean market experienced a day of low liquidity and few variations. According to Rafael Silveira, an analyst at Safras & Mercado, prices fluctuated in a mixed manner, with few offers in the market and trading already closing their programs. The industry also offered little, and in the new crop there were almost no movements or fixations. The Chicago Board of Trade registered a slight increase after China announced that it will restore, starting November 10, the import licenses for soybeans from three American companies: CHS, Louis Dreyfus, and EGT. The authorizations had been suspended since March and the gesture was interpreted as another step to ease trade tensions between the US and China. Despite the advance, the general tariff of 10% on American agricultural products remains in effect. The gradual return of purchases provides support to the contracts, but it still does not generate a significant impact on domestic prices in Brazil, where the pace remains slow ...