EN 
PT_BR 
The market of soy The market maintains a positive bias, but remains limited by the need for confirmation of Chinese purchases and pressure from the US harvest. According to an analysis by TF Agroeconômica, the support in Chicago comes from expectations of a resumption of purchases by China, US export commitments exceeding last year's levels, and the continuation of trade negotiations between the two countries.
The USDA confirmed a sale of 120,000 tons of US soybeans to China, relating to the 2026/27 crop, but the volume is still considered small compared to expectations. Weekly sales totaled 582,400 tons in the period ending September 17, below private projections of 1.5 million to 2 million tons. The Chinese tariff of 10% on US soybeans also preserves the competitiveness of the Brazilian product.
Another supporting factor is soybean meal, which showed firmer performance, with the December contract at US$410.50 per ton. In Brazil, the Paraná indicator advanced from around R$128 to near R$155 in 60 days and began trading sideways, signaling that some of the optimism has already been incorporated into prices.
The assessment indicates resistance at US$ 13.30 to US$ 13.35 per bushel and support at US$ 13.00. Larger Chinese purchases could reinforce the upward trend, while a loss of this support would increase the risk of a correction to US$ 12.40. For producers and companies, the advice is to work with staggered sales and purchases, monitor Chicago, exchange rates and premiums, and prioritize margin protection instead of concentrating trading in a single scenario.
