New soy export deals hardly slow losses

In the soybean complex, bears took over trading again on Friday, causing significant losses. The expiring August contract in particular marked the highest daily loss at $45.25 US cents per bushel. The newly reported export deals were also unable to turn the tide just before the weekend. A booking from Mexico for 171,500 tons, as well as a booking from China for 325,000 tons and another deal for 431,000 with an unknown destination for the new FY in September were confirmed. In addition to the developments in the other agricultural markets, the focus remains on the weather. August in particular is crucial for the development of soybean stocks, so the heat and drought are causing uncertainty on the market.

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