Heat and crude oil make soybean trade firmer

The announced heat wave for the first week of August means soybean, soybean meal and soybean oil continue to rise yesterday. In view of the lower ending stocks forecast for the current marketing year, the feared yield damage in soybeans weighs heavily. In Argentina, the producers are also not willing to sell, the grist mills are increasingly complaining about a shortage of soybeans, and the grist prices are rising accordingly. Premarket soybeans on the eCBoT are again firmer today. Raps is also impressed by this trend. The Canadian statistics authority corrected the rapeseed area there again upwards. However, the stronger crude oil prices and the weather forecast for the Canadian prairies ensured that both canola on the ICE in Winnipeg and rapeseed in Paris were able to increase.