The soybean markets in the USA recorded further gains at the end of the week. For the month of August, an increase of 6.25 US cents to 1027.75 US cents/bushel was recorded. Among the by-products, soybean meal was firmer on the futures market with a daily gain for August of US$ 5.30 to US$ 274.00/short ton, while prices for soybean oil fell. Here there were losses of 40 to 42 points at the end of the week.
In the export business, commitments for soybeans to date total 50.648 million tons. This means that the USDA forecasts for the current marketing year have been met 100%, which is slightly below the five-year average of 102%.
Soybean prices were also driven by the forecast of hot temperatures in the near future.
Canola prices in Winnipeg rose slightly. November gained 0.40 can-$/t to 700.3 can-$/t at the end. On Euronext, rapeseed for the month of August lost €5.75 to €484.50/t.
