01.
02.17
08:09

Rapid harvest progress in Brazil fall soybean prices

The CBoT soybean prices fall further. A bumper crop is expected in Brazil and the weather in Argentina has improved considerably, so that the expectation is increasing on a wide range from there.
The prices fall morning in the front month March 17 today on 1.018,25 ct / bu and they move since day before yesterday on a two-week low.
14 days ago, heavy rainfall in Argentina led to a drastic rise in which institutional investors strongly built their portfolios to Sojabohnenfutures. That makes the price of the futures contract now vulnerable to an equivalent decline.
Meanwhile, ahead of Brazil's ports ships from all over the world on roadstead and waiting cargo - soybeans from the new harvest. The line up is due to a rapid harvest progress and global demand twice as big as a year ago.
Brazil's soybean supply is available on the world market in direct competition with offers from the United States. The output of the soybean crop in South America, and so the prices are likely to have a strong influence on the area under cultivation in the United States. Currently, one must assume a low price level.
The cultivation plan for the summer crops of corn and soybeans is now made in the United States.
Today, the USDA will release a monthly report on the oilseed processing in the United States. The surveys of experts suggest that the processing volume in December is not very different from the November amount (170.7 Mio.bu).

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