Brazil buys US soybeans and thus supports the futures market rates

CBoT soybean futures prices are rising again this morning as demand for oilseeds from Brazil to China is robust and a smaller US crop is expected.
Even if the whole world is waiting in suspense for the election result in the USA, yesterday only supply and demand were decisive for the agricultural market.
Yesterday the prices of the CBoT soybeans rose significantly as Brazil loads 38,000 US soybeans in the Gulf of Mexico. In the South American country, the price of basic food is rising sharply.
On Monday, the USDA had already announced that the harvest progress for US corn and soybeans was progressing too slowly.
Who will be the next president in the USA is still in the stars this morning. The uncertainty that goes with this is likely to dominate the agricultural markets in the coming days.

Hansa Terminhandel GmbH
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