Trump's statements boost soybean prices in Chicago

Soybeans closed the day and the week higher on the Chicago Board of Trade (CBOT), driven by statements from former U.S. President Donald Trump regarding trade relations with China. According to information from TF Agroeconômica, the market reacted positively after Trump stated that relations with the Asian country should improve, which reduced trade tensions and brought optimism to investors. The futures contracts reflected the upward movement: the November expiration closed with an appreciation of 0.87%, quoted at US$ 1,019.50 per bushel, while the January contract rose 0.80%, to US$ 1,036.75. In the derivatives segment, soybean meal for December registered an increase of 1.48%, reaching US$ 281.00 per short ton, and soybean oil advanced 0.51%, quoted at US$ 51.13 per pound. The improvement in prices was also favored by strong demand from U.S. processors, with crushing rates at historically high levels. This scenario has contributed to mitigating concerns about lower Chinese ...