In Paris it only went into the red for the front month. For the later contracts it went further north. Soybeans failed to find a consistent direction midweek. On the other hand, the scrap contracts had to give way across the board. In Brazil, analysts expect soybean exports to total 12.09 million tons in April and are therefore more optimistic than at the beginning of the month. Meanwhile, the USDA confirmed two more large export sales of over 132,000 tons, one to China and one to an unknown destination. The soybean harvest is progressing in Argentina. So far, however, the yields have been disappointing, so that the USDA expects a harvest of 41 million tons. This is a decrease of 2.5 million tons from the previous forecast. For the coming financial year, the analysts are expecting 51 million tons due to the expansion in area.
Source
VR Agrarberatung