US soybean prices fell slightly on Friday: the September contract lost 6.25 US cents to 967.75 US cents/bushel, while the November contract also fell 6.25 US cents to 987.50 US cents/bushel. Soybean meal was up slightly for September, gaining 0.50 US dollars to 276.60 US dollars/short ton.
Ahead of the USDA report on Tuesday, analysts expect average production of 4.374 billion bushels, 39 million bushels more than in the previous month. Export commitments for the old crop are at 51.493 million tons, 101% of the USDA target, but slightly behind the usual pace.
On the weather front, announced rainfall in large parts of the US growing regions is weighing on sentiment.
On the canola market in Winnipeg, the November contract slipped by Can-$ 7.90 to Can-$ 669.40/t. Rain in parts of western Canada put pressure on prices. Rapeseed also ended the week in the red, closing €5.50 lower at €468.25/t for November.
