Correct soybeans

Soybeans on the CBOT closed in the red yesterday. The November date lost 2.75 US cents and closed at 1,300.50 US cents/bu (452.21 euros/t). Soybean meal, on the other hand, increased. The October date closed at a price of 392.40 US dollars/short, 2.30 US dollars higher (408.48 euros/t). The export figures published yesterday were particularly disappointing on the market. Last week's sales totaled 672,200 tonnes, which was at the lower end of market expectations. China ordered the largest quantity at around 581,000 tonnes. Since crude oil prices also corrected yesterday after Wednesday's rally, soybeans and soy oil were also burdened in addition to the weak export figures. Today the USDA will release its quarterly inventory report. Compared to the latest WASDE assessment, a decline of up to 6 million bushels is expected. Soybeans are rising again this morning pre-market.

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