Brazilian harvest estimates push soybean prices

Soybean prices on the CBoT fell three times in the last four trading sessions. The pressure comes from the high harvest estimates for Brazil.
Global stocks of grain and oilseeds rise and is little room for fantasies of course. Even though reported in Argentina by difficult weather conditions fundamentally little has changed.
Soybean prices rose yesterday, because in parts of Argentina's soybean growing region, in Central and northeastern Argentina, heavy rain flooded the fields. The rains were so strong that crop damage is expected. Next week, the weather conditions should improve but again.
The USDA reported yesterday that last week even the top expectation of analysts exceeded U.S. exports of soybeans with 1,457 million tons. One came from 1.1 to 1.4 million tons.

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