Soybeans speculators in Chicago to took the net long positions to 7.429 contracts on total 167.554 net long positions in the last week of the report.
Da oilseeds in the last USDA estimate of the may 2016 already much better hit and which have "Cops are allowed to pasture". End stocks were estimated to 8 million tonnes lower on now 77 million tonnes. The stock to use ratio is significantly lower than the average for the last five years with 18.4% 16.7%. Soybean prices, which rose after the release of the USDA numbers within a few minutes by 6% benefited in the first place. Also our canola prices in Paris were able to benefit from this environment and have grown a pair euro/t. Whether keeping this first course euphoria is questionable, the supply is still very comfortable. Now, the first estimate of the WJ 2016/17 has still much potential for change, but who hoped for fast-rising rates will be disappointed first.
