28.
04.22
09:54

Soybean Oil Shoots Up

After the gains of the past few days, rapeseed contracts were no longer able to remain in the profit zone in the middle of the week and fell across the board. The soy complex left the market with a green sign. Both the beans and the meal contracts were able to rake in moderate gains yesterday. Above all, the sharp rise in prices for soybean oil pulled the beans further up and created a buying mood among investors. With a view to the currently strong US dollar, however, many traders fear that export business could suffer. Experts are positive about soybean production in Argentina. An increase in area of almost 4% to 17 million hectares is expected. Yields should improve to 3.09 tons per hectare.

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