24.
11.23
09:29

Rainfall in Brazil benefits soybean sowing

Soy trading paused yesterday. As reported, soybeans fell significantly on Wednesday. Soybean meal prices have also fallen. The weather forecast for Brazil has continued to improve. Although it is now expected that the soybean plants will not be fully planted in time and will therefore also have a negative impact on the second sowing of maize, the latest weather models suggest that the drought stress of the young sowing will be alleviated. Market observers are already satisfied with yesterday's rain showers in South America. There is currently no pre-market trend. After the holiday yesterday, the CBoT will start trading again this afternoon. The local cash markets continue to show fixed price trends for soybean meal for short-term deliveries. The prices of the first feed mixtures have already increased. Due to the development of soybean meal, it is expected that the price of protein-rich feed mixtures will increase in the coming weeks.

Source
VR AGRICULTURE
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