Weak demand brings down soybeans in Chicago, US

On the Chicago Stock Exchange, soybeans closed the day and week down with weak demand for the American grain and the weather in Brazil, according to information released by TF Agroeconomic. “The soybean contract for January24, the next date traded in the USA, closed down -1.90%, or $ -25.75 cents/bushel at $1330.75”, he comments. How to profit from soybeans? On a reduced session day and after the North American holiday, the oilseed lost strength due to the low volume sold during the week. “The drop in the weekly comparison was 75% and 47% in relation to the averages of the last 4 weeks. However, individual sales were revealed this Friday, which limited the price drop. The good progress of planting in Argentina and the milder weather in Brazil during the week also put pressure on soybean prices. As a result, soybeans closed the week down -0.71% or $ -9.50 cents/bushel for January24 contracts. Soybean meal accumulated gains of 0.92% or $4.10/short ton in the period. Soybean oil ...