Soybeans again with double-digit losses

Soya also showed significant price losses on Friday after the one-day trading break. January beans lost 25.75 US cents/bu and closed at 1,330.75 US cents/bu. Soybean meal lost $3.50 in the January contract at $434.10/short ton (436.44 euros/t). The USDA reports of large individual purchases from China of 129,000 tons and to a buyer of unknown origin of 323,000 tons did not stop the losses. At 960,000 tons, the weekly export figures were at the lower end of the expected scale and represent the lowest value in the last seven weeks. Further rain showers in Brazil dragged the market down. The weekend showers brought further relief, particularly to the very dry areas in the middle of the country. In the south, where it was often too wet, the weather situation has also returned to normal. The most important weather month for plant development in Brazil is January. This morning there were slight corrections in the price development of the past few days before the trading session. Soybeans tend to be a little firmer, while soybean meal does not yet indicate a uniform development. Soybean oil is also rising again this morning.

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