11.
04.22
09:44

WASDE report ensures bullish soybean market

With slight gains, rapeseed left the market before the weekend. The front month was flat and was quoted unchanged at 961 euros/ton. In Winnipeg, canola futures took over as bullish sentiment increased. Trading on the other side of the Atlantic came to an end with significant price jumps. Above all, the forecast lower soybean production of 350.7 million tons and the reduction in global exports by 3.3 million tons gave the bulls the lead. Global ending stocks were also revised down to 89.58 million tons (-380,000 tons). Above all, the poor growing conditions in South America, above all Paraguay and Brazil, were cited by the experts as the reason for the correction.

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