The soy complex had to give way across the board yesterday. Beans in particular recorded losses of up to double digits in yesterday's trading. The March contract recorded a loss of $17.25 US cents/bushel to $1,223.00 US cents/bushel and therefore costs the equivalent of 414.55 euros/ton. The shot contracts also ended the day in the red. The soy export figures for beans were 561,000 tons and for meal 256,000 tons. Both results were below analysts' expectations and fueled selling on the stock market. In Brazil, the industry association has just increased its forecast for exports in the current month to 2.3 million tonnes, further creating a bad mood. Meanwhile, harvesting work continues in Brazil and has so far achieved 6% progress. However, rainfall is expected for the coming week, meaning the harvest could stall again. For the Euronext rapeseed, the scoreboards lit up red again yesterday. All appointments had to cope with another day of losses. Canola contracts on the Canadian stock exchange were also unable to escape the weak conditions and had to give way significantly. According to the local statistics agency, around 0.943 million were recorded in Canada. Tons of oilseeds processed. This corresponds to an increase of around 14% compared to the previous year.
ZMP Live Expert Opinion
Prices in the oilseed markets did not find a consistent direction this week. After the gains of the past few days, soybeans in particular had to fall significantly again shortly before the weekend. Geopolitical conflicts also continue to determine the markets. Market participants expect logistics problems in the coming weeks, especially in the Red Sea. Accordingly, it remains a rather volatile grain market this week.
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