USDA does not change forecasts for South America

Soybeans went south yesterday after the publication of the WASDE. Soybean meal, on the other hand, became more expensive in yesterday's session. The front month of May 24 closed with an increase of 4.70 US dollars with a settlement of 335.60 US dollars/short ton. This corresponds to a converted price of 344.14 euros/t. Slightly higher soybean meal prices were also evident yesterday at the wholesale level in Germany. The reason soybeans were under pressure was that, contrary to expectations, the forecasts for Brazil and Argentina were not adjusted. Lower production expectations had been expected for Brazil in particular. US exports, on the other hand, were revised downwards. Weekly export sales, which were also published yesterday, were in the middle of analyst estimates at 300,000 tons. Unlike the USDA, the Brazilian agricultural authority yesterday reduced its own expectations for the harvest there by 0.3 million tons to 146.5 million tons. The grain exchange in Buenos Aires also updated its forecast yesterday and lowered expectations by a very significant 1.5 million tonnes to 51.0 million tonnes for the Argentine soybean harvest. In pre-market trading, soybeans are showing slight losses this morning, while soybean meal is also showing slight gains today.

Please describe your request so that we can prepare for the callback.
Yes, I have read the Privacy Policy note and I consent that the data provided by me, including the contact data, for the processing of the inquiry and in case of questions are electronically collected and stored. My data will only be used strictly for my request and will not be passed without my consent. This consent can be revoked any time with effect for the future.'
This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.

Register now

Jetzt registrieren und ZMP Live+ 14 Tage kostenlos testen!
  • Dauerhaft kostenfrei
  • Keine Zahlungsinformationen erforderlich