On the Chicago Stock Exchange, soybean prices lost more than 11 points on major maturities early Tuesday afternoon (26). Around 12h10 GMT, prices fell between 12 and 12.25 points, with May/19 back at $ 9.12 per bushel.
The market, as Brandalizze Consulting’s consultant Vladimir Brandalizze explained, reflects the continuing uncertainty of China-US trade relations, despite the good prospects that have been brought into business in recent days after the week’s round of talks spent in Washington.
“It’s much more of a technical movement than of a change of scenery,“ says Brandalizze.
On Monday, US Secretary of Agriculture Sonny Perdue said that “the US will not be bought by China for the soy agreement, especially in relation to intellectual property issues,“ and they are which are even more controversial and which hinder the conclusion of an agreement between the two nations.
Thus, as the director of ARC Mercosur, Matheus Pereira, explained, “lack of solidity of information, speculation has been saturated with so many rumors“.