13.
11.20
06:15

Second week plus for CBoT soybeans due to a smaller supply

The soybean prices on the CBoT are also dropping a bit this morning, but the market will still end in a plus for the second week in a row because the demand for US soybeans from China remains high.
China's feed producers, pig fatteners and traders keep the world grain market on their toes because the supply of agricultural raw materials from China is generally in short supply and sometimes record-breaking prices have to be paid. This will probably continue to drive the inflation rate in China in 2021.
In its last WASDE report, the USDA lowered its estimate of this year's average soybean yields in the US to 50.7 bushels per acre, surprising market participants. As a result of huge exports, one now expects a very low ending inventory.
The attention of the market is now turning to the supply from South America, where the drought is continuing and there are fears that the yields there will also disappoint.

Source
Hansa Terminhandel GmbH
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