High oilseed processing in the USA

Soy rose again yesterday. Soybean meal was also able to benefit from the upward trend, which was also able to increase. The US Oilseed Processors Association reported yesterday that 173 million bushels of soybeans were processed in July. This exceeded analysts' previous average expectations by 2 million bushels. The previous month's result was also clearly exceeded. However, the high price competition from Brazil continues to have a negative effect. The estimates there for August exports of around 7.8 million tons are depressing the mood of US exporters. The weather forecast also remains positive, although it is likely to get hotter in the corn belt in the coming days. Soybeans are also trending green ahead of the market today.

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