China buys US beans

During trading on the Matif on Friday, rapeseed briefly reached the EUR 1,000 per ton mark, but closed the trading day at EUR 969.25/t, down EUR 8.75. Canola in Winnipeg was also volatile. While profit-taking in the front dates allowed prices to close lower, the November date was able to go into the weekend more firmly by 7.40 Can-$. Within the soy complex, soybeans, soybean meal and soybean oil ended with gains. New export deals with China boosted the market. This development was slowed down by the expectation of the vast majority of analysts that US farmers would sow more soya instead of corn. The area is estimated at 88.9 million acres, which would correspond to an increase of around 1.7 million acres. The USDA will publish official figures on Thursday.