Tuesday's losses were partly made up for or made up for yesterday on the Euronext/Matif. Little has changed in the market situation recently. Overall vegetable oils rose yesterday, also giving support to rapeseed. The outcome of the negotiations on the grain corridor on the Black Sea continues to be awaited with suspense. However, both sides, Russia and Ukraine, have repeatedly made mutual accusations that put the future of the deal on shaky ground. Soybeans were mostly flat yesterday and ended mixed. The most traded November contract lost 0.25 US cents and costs the equivalent of 503.63 euros/t. Soybean oil rose significantly yesterday and closed the December 2022 front date up 1.14 US cents/pound at 73.42 US cents/pound (1,605.63 euros/t). Soybean meal, on the other hand, was only able to increase in the front delivery date, all other delivery dates showed a red sign. The situation on the waterways continues to be problematic for the soybean market in the USA. Ships using the Mississippi can currently only be loaded with a maximum of 30 percent of their capacity. The logistics chains are thus significantly impaired and thus puts pressure on pricing.Harvest conditions continue to be good. Pre-market, the beans are showing a slight green sign today.
Source
VR AGRICULTURAL
