Soybean prices continue to fall on the Chicago Stock Exchange this Monday afternoon (27). At around 2:15 pm (Brasília time), losses among the main maturities ranged from 8.50 to 9 points, with the May contract worth US$ 10.59 and the July contract, US$ 10.71 per bushel. In addition, the market is following losses of more than 1% in neighboring markets — corn and wheat — and also in soy derivatives. More specifically, bran led the declines, falling more than 1%, which intensified losses on the grain.
“In Chicago, the soybean complex starts the week in decline. The movement reflects the tariff risks and the reduction of retentions in Argentina. Soybean meal, in turn, leads the losses in the market”, explains the Pátria Agronegócios team.
Reduction of withholding taxes in Argentina impacts the global market
The government of Javier Milei, in addition, made official this Monday (27), through decree 38/2025, the reduction of retentions and the elimination of the tax in the so-called 'regional economies' by the middle of this year. The publication in the Official Gazette occurred after the statement by the team of the Minister of Economy, Luis Caputo, during a press conference held at the end of last week.
Meanwhile, the market also received information on weekly soybean shipments on Monday. This data indicated volumes below expectations, which contributed to further pressure on prices.
In the week ending January 23, the United States shipped 729,362 tons of soybeans. However, market projections ranged from 800,000 to 1.250 million tons.
In the entire commercial year, however, shipments have already totaled 33,033,586 million tons, 19% more than last year, in the same period.
Global demand falling
Furthermore, agricultural futures remain down on the CBOT. Labhoro Group CEO Ginaldo Sousa explains that the movement is influenced by the rain recorded in Argentina and southern Brazil over the last weekend.
On the global calendar, China will be out of business due to the Lunar New Year holiday, which begins on Wednesday (29). Southeast Asia will celebrate the Year of the Snake in almost ten days. These events could result in weaker demand during this period.
Source: Carla Mendes | Notícias Agrícolas
