01.
02.24
09:30

Soya: Waiting for processing figures

Soybeans were able to leave the trading session with gains again yesterday. Soybean meal also continued its price rise over the last few trading days and closed Wednesday trading with noticeable increases. However, premarket soybeans, soybean meal and soybean oil are trending red again this morning. Today the USDA will release its monthly report on U.S. soy processing. High processing numbers of up to 206.1 million bushels are expected in advance. The weather conditions in Brazil have recently improved, but doubts continue to arise as to whether these will have a lasting impact on yields. The harvest has already begun and the farmers are currently making rapid progress despite interruptions due to rainfall. The private analysis house AgResource has revised its own estimate for Brazilian soy production downwards from 150.7 to 145.4 million tons. Further rainfall is expected in Brazil and Argentina in the coming days.

Source
VR AGRICULTURE
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