President's Day gave the US stock markets a break and thus also gave the soy complex a breather. However, the market had previously shown strength. In Chicago, soybeans climbed 13.25 US cents in March to 1,137.25 US cents/bushel. Soybean meal also rose and recorded an increase of US $ 4.90 to US $ 307.90 per short ton in March. From a trader's perspective, the underlying tone remained firm and was maintained over the extended weekend. Internationally, the picture was mixed. On the ICE in Winnipeg, canola contracts already came under pressure on Friday, with March losing Can $ 4.30 to Can $ 663.50 per ton. In contrast, the rapeseed market in Europe sent out a positive signal. On Euronext, the March contract rose by 6.25 to 491.50 €/t. Europe is thus sending a positive signal, while North America will have to wait for new data from US trading for the time being.
Source
VR Agrar
