In Paris, rapeseed contracts continued to recover on Wednesday and ended trading with modest gains. In Canada, the bulls also took the lead. A weakening Canadian dollar provided additional bullish impetus alongside developments in the soybean market. The soybean complex was up nearly 2% yesterday. After last week's rainfall, the drought appears to be getting worse again in large parts of South America. According to the latest reports, hardly any precipitation is expected in the coming days. As a result, the analysts at Safras&Mercado reduced their forecast for soybean exports from Brazil to 85.5 million tons (-4.5 million tons). For today's export figures, market participants are expecting a range of 0.5 to 1.3 million tons. The bookings for the new crop are expected to be between 250,000 and 600,000 tons.
