Futures on the US soybean market were weaker in the middle of the week. The August and September contracts both lost 6.00 US cents/bushel to 995.00 US cents/bushel for August and 987.25 US cents/bushel for September. Soybean meal futures fell by 2.20 to 2.70 US dollars/ton, while soybean oil gained, supported by a price increase of 30 to 43 points.
The latest NOPA report, which showed a processing volume of 185.7 million bushels for June, a decline compared to May but an increase of almost 6% year-on-year and a new June record, provided impetus.
The market also moved on a political level: US President Trump announced a preliminary trade agreement with Indonesia that is to include agricultural purchases worth USD 4.5 billion. The publication of the US crop progress data provided additional movement.
Canola prices rose on the ICE in Winnipeg. It rose by Can-$ 8.20 to Can-$ 690.80/t for November. Things looked just as good in Paris. On Euronext, the November price rose by €7.50/t to €485.00/t.
