02.
11.16
07:25

Soybeans record at a week low the offer down spot prices

The CBoT soybean prices fell yesterday by 1.8%. Also this morning, they are further under pressure and record it to the lowest level since a week. Market participants expect that the USDA will raise its crop estimate for beans in the next WASDE report.
The soybean supply by US farmers is huge just before the end of the harvest. Many silos are full and the farmers sell nearly for any price. Also, the weather conditions in South America and therefore the vegetation conditions are excellent during sowing.
The US brokerage house FC stone has yesterday raised its earnings estimate for U.S. soybean on 52.8 bushels per acre (bpa) after the close of trading. In the previous report it was bpa from 52.5.

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