The soybean markets were firmer in the middle of the week. On the CBoT, the November contract rose by 6.50 US cents/bushel to 1013.75 US cents/bushel, while the nearby futures recorded smaller gains of between 0.25 US cents and 3.50 US cents/bushel. Futures for soybean meal and soybean oil also rose. The price of meal rose by between US$ 2.10 and US$ 2.50 per tonne, while oil gained 23 points.
The USDA reported soybean sales of 503,027 tons. This is more than three times the previous year's figure and the highest weekly figure since March. Demand came from unknown buyers with 114,400 tons and Egypt with 88,600 tons, among others. Soybean meal was also in demand. At 578,528 tons, sales were also in line with expectations. In contrast, the export volume for soybean oil was comparatively low at only 3,994 tons.
In Paris on Euronext, rapeseed for August also increased by €2.25/t to €468.25/t.
Canola prices on the Intercontinental Exchange (ICE) in Winnipeg rose. The November contract rose by Can-$ 4.10/t and reached Can-$ 685.10/t.
