US soybeans ended Thursday with discounts of between 6.00 and 7.00 US cents. August closed at 961.75 US cents/bushel, down 6.00 US cents. In September, prices fell by 6.25 US cents to 969,50 US cents/bushel. Soybean meal, meanwhile, held its ground and rose by US$1.10 to US$265.90/short ton for September.
The weekly export figures from the USDA had a supportive effect: at 349,164 tons, they were above analysts' expectations for the old crop and marked a three-week high. The main buyers were Egypt with 102,400 tons and Mexico with 81,900 tons. For the new marketing year, 429,457 tons were reported, led by Mexico and purchases of unknown origin.
On the ICE in Winnipeg, canola was weaker on Thursday. The November futures fell by 1.20 can-$ to 695.40 can-$/t. The volatile development reflects the uncertainty among traders, which is characterized by changing weather forecasts and a certain amount of uncertainty regarding sales. Rapeseed also lost €5.25 to €477.50 per tonne for November on Euronext.
