Soybean complex under pressure - earnings prospects improve again

The soybean complex came under significant pressure yesterday with prospects for rising yields. The reason for the bearish momentum is the nationwide precipitation. Especially in the current vegetation phase, the soybean plants are dependent on sufficient water. With the recent rainfall, market participants are hoping for good yields. Against this background, the USDA announced that the state of the soy stocks improved by 2% compared to the previous week. Market participants were disappointed yesterday when they read the USDA's export figures. With a quantity of 281,857, these were significantly lower than in the previous week (334,121 tons). The level from the previous year could not be reached either (871,345 tons). Yesterday, however, the USDA simultaneously confirmed a sale of 132,000 tons of oilseed to the Middle Kingdom.

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