Soybeans on the CBoT fell consistently on Friday. The leading March contract lost 2.25 US cents/bu and closed at 1,532.00 US cents/bu. This corresponds to a converted exchange rate of EUR 521.46 per ton. Soybean meal decoupled from beans again and increased across all contract maturities with the exception of the front date. Similar to the wheat market, the stronger US dollar also weighed on the price structure for beans. In addition, the grain exchange in Buenos Aires was able to correct the assessment of the condition of soybean stocks upwards. 46 percent of the field stocks are now given the condition rating "poor", which is at least 8 percentage points less than in the past week. The rains have done many plants good, but the future prospects are dry again. Harvest in Brazil continues to be very slow due to rainfall. According to an analysis company, around 9.8 percent of the stocks are currently retracted. On the American export front, the USDA was able to report single sales of 132,000 tons of beans on Friday. The signs for soybeans and soy meal are showing losses today.Whether and to what extent the recent political tensions between China and the USA will influence price developments will become apparent in the course of this week. Rapeseed gained on the last trading day of the week. In the May date it went up by one euro to 545.25 euros. This means that rapeseed is higher than at the beginning of the week. The closing price on Friday of the previous week was 540.50 euros/t. Canola rose sharply on Friday. good export figures helped the oilseed on the ICE stock exchange in Winnipeg. On the local cash markets, there are still only very isolated transactions. The supply situation continues to be described as good. The price quotations for rapeseed, but also for rapeseed meal, became firmer over the course of the week.
Source
VR AGRICULTURAL
