Rapeseed was one of the few losers on the commodity markets in yesterday's trading, although the daily losses were only small. With small corrections to the yields per hectare, the German Raiffeisen Association assumes a total production of winter rapeseed in Germany of 3.8 million tons, which corresponds to a significant increase of 9.4% compared to the previous year. CBoT soybeans showed a clear green sign, especially after the publication of the WASDE. As before, the USDA expects a record harvest in the USA. Total production is estimated at 4.61 billion bushels. That is 4.6 percent more than in the previous year. The price increases were mainly due to the correction of the ending stocks. The numbers make it clear that demand is expected to increase faster than supply. The crop volumes for Brazil have not been adjusted in this WASDE report, but Argentina has. At 42.0 million tons, soybean production in 2022/23 is expected to be around 3.4% lower than previously expected.
Source
VR AgrarBeratung AG
