19.
04.22
10:07

Export deals support the soybean market

The signs were green for the soybean complex. Both the beans and the meal contracts posted solid gains. The oilseed was supported above all by the improving grain markets, as well as the most recent export data from the USDA. In the past week, 0.97 million tons of soybeans were exported, which is above the result of the previous week of 0.81 million tons. Cumulatively, soy exports reach a volume of 45.9 million tons. However, the result from the previous year of 55.2 million tons could not be repeated. At the same time, the USDA confirmed a sale on Friday with a volume of 700,000 tons to China. The latest data from industry association Nopa showed that around 181.75 million bushels were processed in March, at the higher end of expectations. The Bulls also took the lead in Winnipeg. In addition to the positive agricultural markets, the rising palm oil prices also gave support to the canola futures.

Source
VR Agrarberatung
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