The rally in oilseed markets was paused for the time being yesterday. Soybeans lost 27 cents/bu in the most traded May date, soybean meal lost $6.30/short tons and thus costs the equivalent of 443.32 euros/t. On the cash markets, soybean meal prices in Germany have increased continuously in recent days. The price drop in the soybean complex was slowed down by the reporting of several export bookings totaling 266,000 tons to China and 264,000 tons to "Unknown". Traders are expecting good demand for the export bookings published at noon today and are estimating a range of between 1.2 and 1.3 million tons. Pre-market prices for beans, meal and oil are rising again today on the eCBoT. In the front term, rapeseed followed the specifications from the USA and Canada. The other dates were slightly firmer yesterday and gained up to 3 euros/t. Pricing is proving difficult on the spot markets in Germany. Hardly any uniform prices are quoted for short-term deliveries.
Source
VR AgrarBeratung AG
