19.
01.22
10:04

Soy glows red

In yesterday's trading, the downward trend in Paris continued, so that the rapeseed prices ended trading with up to double-digit losses. In Canada, canola futures were unable to break away from weak guidance and also corrected. For the soybean complex, the scoreboards turned deep red again yesterday. In particular, easing concerns about drought gave the bears the lead. In Argentina and Brazil, lower temperatures and precipitation are currently improving the growth conditions for soy stocks. The US export figures published yesterday prevented even greater losses. According to the USDA, these amounted to 1.720 million tons and were thus well above the previous week (+735,000). Cumulatively, however, exports did not reach the level of the previous year (-23%). NOPA also published new processing figures yesterday. In December, 186.4 million bushels were processed, surprising market participants. At the same time, the result marks a new record high.

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