Soy back on track

After Tuesday's setback, soybeans were clearly up again yesterday. The November date closed with an increase of 14.50 US cents at 1,360.25 US cents/bu and thus costs the equivalent of 460.18 euros/t. Soybean meal in the October date closed with a profit of $6.60 at $404.50/short ton (409.60 euros/t). The weather forecast for the coming week is decisive for the bullish mood. It should stay warm and dry. The field tour of the Pro Farmer industry association brought positive earnings prospects for Ohio on Tuesday, the interim reports from Nebraska also show better plants compared to the previous year, but the pod formation is below average compared to the average of the last few years and gave prices an additional boost. Soybean prices on the CBoT are also friendly in pre-market trading this Thursday.

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