Soya still in correction mode

The soy complex was also in correction mode yesterday. The overall news situation on the soy market is not very impulsive. The weather forecast has not changed. For the fourth trading day in a row, the US Department of Agriculture reported an export sale as a flash sale. Chinese buyers have ordered 266,000 tonnes of 2023/24 crop soybeans from the US. Soybean meal also lost yesterday and closed in October at a price of 411 USD per short ton (413.71 euros/t). On the local cash markets, soybean meal prices have remained stable over the course of the week so far. The 27 EU countries have so far imported 2.16 million tons of soybeans in the first nine calendar weeks of the new marketing year, compared to 1.96 million tons in the Commission's import statistics at this point in the previous year. At 2.32 million tons, soybean meal imports are only marginally below the volumes of the previous year. Around 60 percent of soybean imports come from Brazil and another 30 percent from the USA. When it comes to soybean meal, Brazil is also the European Union's largest supplier, accounting for more than 2/3.

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