Soybeans were again under selling pressure in the middle of the week. In Chicago, the November contract lost 6 US cents and closed at 1043.75 US cents/bushel. January and March each lost 6.25 US cents, ending at 1063.00 and 1078.00 US cents/bushel respectively. The significantly weaker soybean oil prices in particular, which lost between 108 and 145 points, created a clear bearish undertone in the complex. Soybean meal fell by US$ 1.90 to US$ 283.90/short ton for October.
Canadian harvest estimates set the tone internationally: Statistics Canada put soybean production for 2025 at 7.13 million tons, a year-on-year decline of 5.7 per cent. Nevertheless, this was not enough to support prices.
Canola futures also reacted to the fresh figures. Despite the downward estimate for soybeans, the 4.1% year-on-year increase in the expected canola harvest weighed on the market. The November contract on the ICE in Winnipeg fell by Can-$ 12.70 to Can-$ 628.10 per tonne. In Paris, rapeseed also fell: November lost €2.50 and closed at €470.75/t.
