Soy complex does not find a unified direction

The soy complex failed to find a clear direction on Friday. In the case of beans, the leading dates were able to escape the downward pull and pocket slight profits. The later dates, on the other hand, had to give way again. The grist contracts were more positive, ending the last trading day of last week in profit. Analysts at the International Grains Council reduced their expectations for global soybean production just before the weekend. A quantity of 400.00 million tons is currently expected. In the previous forecast, the experts had assumed 402.00 million tons. The reason for the correction is the smaller acreage in the USA. Overall, however, the forecast is still at a record level. For the 23/24 season, experts expect ending stocks to amount to 63.00 million tons. This corresponds to a decrease of 2.0 million tons.

VR Agriculture
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