US soybeans ended Wednesday's trading with losses. The January contract fell by 4.50 US cents to 1,058.25 US cents/bushel. March and May fell 3 US cents each, closing at 1,068.75 and 1,080.00 US cents/bushel respectively. Soybean meal for January fell by US$ 4.20 to US$ 298.20/short ton.
Although fresh US export reports, such as deliveries of 198,000 tons to China and 125,000 tons to unknown buyers, provided brief impetus, the overall picture remains bearish. Brazil's export momentum is increasingly a burden: according to the analysts' association ANEC, an export volume of 3.57 million tons is expected in December, 240,000 tons more than recently estimated.
At the same time, the rapeseed markets declined. In Winnipeg, January canola fell by Can-$ 1.40 to Can-$ 597.30 per tonne. In Paris, the most traded February rapeseed lost €2.25 to €467.00 per tonne. Traders pointed to a weak international environment coupled with a lack of impetus from the domestic market.
