The slight gains of the previous trading days were made up for by more significant price losses on Friday. The February date on the Euronext/Matif lost 5.75 euros/t during trading on Friday and closed at 565.50 euros/t. The follow-up contracts were also red and fell between four and five euros per tonne. The USDA's December WASDE put sales pressure on rapeseed. Unlike the Canadian statistics agency, which expected a harvest of 18.17 million the week before last, the USDA estimates the Canadian harvest at 19 million tons, putting prices under pressure. Rapeseed prices have recently remained stable on the cash markets in Germany, but trading volumes remain relatively low. Soybeans on the CBoT fell slightly on Friday. On a weekly basis, however, soybeans appreciated overall. The front month of January fell 2.50 US cents/bu on Friday. In the WASDE report, the USDA left the forecast for the US soy crop unchanged. There were only slight corrections in the December WASDE compared to the previous month on a global level.Harvest estimates for Ukraine and India have been revised upwards, but at the same time Argentina's soybean forecast has been revised downwards due to the drought. According to the USDA experts, global soy trading volumes could be somewhat higher than previously assumed. The ministry attributes this to the introduction of the so-called soy pesos in Argentina, among other things. Soybean meal rose again on Friday and closed with a daily gain of US$ 5.20 at US$ 471.60 short ton (EUR 492.51/t). Soybean oil, on the other hand, continued its slide on Friday. The most traded January date lost another 1.30 US cents/pound to 60.01 US cents/pound (1,256.05 euros/t).
Source
VR AGRICULTURAL
