Soy complex does not find a consistent direction

The soy complex was unable to find a consistent direction at the start of trading yesterday. While the beans recorded up to double-digit gains, the meal contracts continued to decline. There are reports from the USA that a new biofuel plant is to be built in California. This created a buying mood among investors and speculators on the market. The continued rise in crude oil prices provided additional support. Harvesting work for oilseeds is slowly getting underway in Brazil. So far the work has reached around 6% of the cultivated area. Compared to the previous year, the harvest pace is currently higher (+1.8%). The severe drought in particular caused significant losses in some fields, which in turn is now allowing work to progress faster.

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