16.
10.23
09:02

Soya impacted by profit-taking - positive trends before the market

The soy market was all about profit-taking on Friday. After the USDA's WASDE report, soybean prices rose sharply. Yesterday, beans and soybean meal closed with losses after Thursday's price rally. However, the news, which was positive in itself, slowed the price losses. On Friday, the USDA reported the sale of 137,000 tons of soybeans and 100,000 tons of soybean meal to a buyer of unknown origin. The weekly export sales, which were only published on Friday due to a public holiday, also show positive developments and, at 1.1 million tonnes, were better than previously expected and also represent the highest weekly sales value in the last six months. Today, market participants await the US Soybean Processors Association's monthly report on monthly processing figures in September. Analysts assume a processing volume of up to 4.4 million tons. If this is true, it would be the highest processing value ever for a September month. Today there are green signs in premarket trading for soybeans, soybean meal and soybean oil.

Source
VR AGRICULTURE
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