Good for Argentina: soybeans flirted with US$400 in Chicago

Good for Argentina: soybeans flirted with US0 in Chicago

The oilseed rose 0.9% to $391.50 a ton in Chicago. It is good data for local agriculture and comes along with the announcement of a reduction to 26% of withholdings.

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The soy He went up this Thursday, January 23, and flirted with the $400 per ton in Chicagoafter the imposition of tariffs did not appear in the first package of measures of Donald Trump.

In that context, the oilseed went up 0.9% to US$391.50 the ton in Chicago, while the corn climbed 1.1% to US$192.81 the ton. He wheat closed without variation US$203.56 ton.

In addition, All soybean futures contracts also rose today in Chicago. For example, those as of July of this year are already at US$399.95; those of May, at US$396, and those of March, at US$391.5. This is very positive data for the countryside, especially for Argentina, after the Government decided to lower withholdings.

China stopped receiving shipments of Brazilian soybeans

China, the world’s largest buyer of soybeans, stopped receiving shipments of Brazilian soybeans of five companies after shipments did not meet phytosanitary requirements, according to a statement from the Brazilian government.

The suspension comes at a time when Brazil strengthened its share in the world’s largest soybean market at the expense of the second largest exporter, the United States.

field harvest soybeans retentions sowing

Soybeans rise in price and Argentine agriculture can benefit.

Soybeans rise in price and Argentine agriculture can benefit.

Depositphotos

He Brazilian Ministry of Agriculture said that the notification of “non-conformity” that he received from the China General Administration of Customs (GACC) refers to five Brazilian companies, which the ministry did not name.

The ministry stated that Brazil’s total soybean exports to China “will not be affected,” adding that it will provide the information necessary for China to lift the temporary suspensions.

China, which buys more than 60% of the soybeans sent around the world, currently purchases more than 70% of its imports of the oilseed from Brazil, which takes away market share from the United States.

China imported a record 105 million tons of soybeans in 2024.

Source: Ambito

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