Soybean prices on the stock market came under significant pressure at the start of the week. The price of soybeans for the month of August fell by 12.75 US cents to 1015.00 US cents/bushel. Soybean meal for the same month also fell by US$ 3.50 to US$ 270.50/short ton. Soybean oil, on the other hand, gained up to 27 points.
In its latest Crop Progress report, the USDA reported that the assessment of stocks deteriorated: the proportion of good/excellent stocks fell by 2% to 68%. Following rainfall over the weekend, the weather service expects further regional rainfall in large parts of the US growing region.
Export inspections increased significantly compared to the previous week: the USDA reported 364,990 tons for the week ending July 17. A significantly higher figure compared to 151,346 tons in the previous week and also higher than 338,255 tons in the previous year.
In Winnipeg, canola futures fell again at the start of the week. A drop of Can-$ 6.20 to Can-$ 694.10/t was recorded for November. Areas characterized by drought recently benefited from rainfall. Rapeseed also headed south. On Euronext, it fell by €3.75 to €480.75 per tonne for November.
