WASDE cuts US soybean forecast

As expected, the USDA has adjusted its forecast for US production downwards. A harvest of 114.5 million tons is expected, which is 2.6 million tons less than in the July WASDE. Yields per hectare were adjusted downwards, according to the US Department of Agriculture export demand on the world market should remain stable. Closing stocks are falling. Nonetheless, prices for soybeans, soybean meal and soybean oil fell on Friday. The weather forecasts for the coming days and weeks are particularly positive for the soy areas in the USA and are having a negative impact on price developments. Pre-market, soybean meal and soybeans are showing green signs today.

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