Soya market inconsistent

Soybeans gained marginally yesterday. The front month of January closed with a gain of 0.50 cents at 1,347 US cents/bu (451.09 euros/t). Soybean meal also showed red signs yesterday and lost 6 dollars in the December date with a closing price of 444.30 US dollars/short ton (445.43 euros/t). Traders are currently fluctuating between the large import volumes that China is currently seeking on the world market and the still high harvest forecasts for Brazil and Argentina despite cultivation difficulties. Although the weather situation in Brazil has recently eased, early analysts have still questioned the high soy production. However, since soybean sowing in Argentina is getting off to a good start and the weather conditions here are much friendlier, the lack of quantities in Brazil could probably be compensated for by better yields in Argentina. It is also suspected that China will soon start another shopping spree in the USA. Recently there have been repeated flash sales with large quantities of soy sales to the Middle Kingdom. Pre-market, there are slight green signs in electronic trading on the CBoT for oil, meal and beans.

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