28.
02.24
08:28

False sale supports soy

Soybeans also gained on the second trading day of the new week. Soybean meal also became more expensive. Soybean oil increased in a positive market environment. The USDA yesterday reported an export sale of 123,000 tonnes to a buyer of unknown origin, supporting positive sentiment. Last week, friendly export loading volumes already provided a boost. Last week's export sales were 974,977 million tonnes, below the previous week's level, but around 209,000 tonnes higher than last week last year. However, the profits are limited by the rapid soybean harvest in Brazil. As AgRural announced, 40 percent of the stocks have been brought in, compared to 33 percent last year. The second corn sowing in the South American country is also benefiting from the rapid harvest progress. According to the consulting firm, 73 percent of this has taken place. The new USDA Fats and Oils Report is expected on Friday. Here, market participants primarily expect higher stocks of soybean oil. With the exception of soybean oil, there are green signs in the soy complex today pre-market.

Source
VR AGRICULTURE
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