18.
03.24
08:53

Soybeans are increasing moderately - Brazil's production prospects are mixed

The soy complex did not find a consistent direction even shortly before the weekend on Friday. Beans rose moderately, while meal contracts ended the weekend with losses. The NOPA report published on Friday provided support. This showed that oilseed processing amounted to around 186.2 million bushels in February, which was even higher than the expectations of most market participants. These had estimated an average of 178.0 million bushels. The difference compared to the same period last year was +11.6%. The not entirely uniform production prospects for South America, such as Brazil, are currently providing additional tailwind. Regional analysts expect production to amount to 49.5 million tons. The USDA experts, on the other hand, are more optimistic and expect a result of 50.0 million tons.

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