CBoT Soybean Quotes Biggest Monthly Gain in 4 Years

The price of the soybean future is expected to rise at the end of November with the largest monthly increase since June 2016 as strong demand and the weather influence bean prices.
Traders and agricultural economists in Australia are concerned about the weather and the impact on yields in South America, while supplies of agricultural commodities are still large. The price development will therefore largely depend on China's appetite.
Prolonged drought is expected to reduce yields in key growing areas of South America and support US soybean and corn futures, although there has been some rainfall recently.
A lack of self-sufficiency has caused Brazil, the world's largest soybean producer, to look for deliveries abroad.
According to the Port Authority of Paranaguá, a ship with 30,500 tons of soybeans produced in the USA is due to arrive in Brazil on Friday, as the country has made a rather rare purchase in North America when supplies are scarce.
Some Chinese soybean importers and processors are trying to cancel signed contracts on U.S. supplies for December and January after margins collapsed after a steep rally in Chicago futures, three trade sources said. This is the first sign of a slowdown in Chinese demand after a five-month spending spree.

Hansa Terminhandel GmbH
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