10.
03.22
09:50

Production forecast for soybeans in South America cut

In Paris, the front month for rapeseed reached a new all-time high of 891 euros/ton. For the back dates, trading ended with marginal losses. In the case of soybeans, the red signs prevailed in the middle of the week. The May date recorded a loss of 18 US cents/bushel and thus costs the equivalent of 554.91 euros/ton. In the latest WASDE report, the USDA corrected the ending stocks in the USA downwards. Exports, on the other hand, are expected to reach 56.8 million tons. Earnings are expected to fall, particularly in South America, so the production forecast was reduced by 9.5 million tons. US production is estimated at 120.703 million tons.

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