Friendly export bookings prevent major losses in soya

Yesterday there was no consistent picture in the soy complex. The majority of soybean meal prices and soybeans fell, with soybeans in particular leaving the trading session in deep red, while meal losses can still be viewed as small. Soybean oil, on the other hand, rose across the board yesterday. U.S. soy production was estimated 700,000 tons higher in yesterday's WASDE and is now expected to be 112.4 million tons. The global harvest for the current season will be adjusted upwards from 399.5 million tons in October to 400.42 million tons, but due to higher consumption and processing figures, global final stocks are still estimated to be slightly lower. No adjustments were made for Argentina and Brazil. Farmers in Brazil in particular have recently had to struggle with difficult growing conditions. However, friendly export sales prevented major losses for soybeans. The USDA reported export bookings last week of 1.08 million tonnes, an increase of 7 percent compared to the previous week. Loadings have also increased significantly. With the exception of soybean oil, there are red signs in the soy complex in premarket trading today.

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