Non-uniform soy complex

Oilseed markets sent mixed signs yesterday. While soybeans for November 2022 fell by 15.25 US cents/bu, soybean meal prices rose in yesterday's trading and rose by 4.70 US cents/short ton to $411.50/short ton (=450.89 euros/ t) for the December date. Concerns about the global economy, especially about the development of demand from China, play an important role in current trading for soybeans. Current figures from China show that China imported 24.5 percent fewer soybeans in August than in July. The significant drop in crude oil yesterday also weighed on sentiment. The exchange rate guarantee in Argentina, which was already reported yesterday, also had an impact on yesterday's trading. Rapeseed was able to improve slightly in Paris yesterday, it went north by EUR 3.25 for the November date. Here too, as on the grain markets, the uncertainty about the Ukrainian agricultural goods transports played an important role. President Putin's statement caused considerable uncertainty. The canola crop in Canada is progressing well as expected. Good weather conditions are also expected until the weekend.Canadian conola inventories as of late July are depressed, down 50% from 2021 levels.