Soybeans closed firmer on Friday and posted double-digit gains. Soybean oil also rose, while soybean meal prices closed slightly weaker. There were few surprises in the WASDE report from the US Department of Agriculture; rather, the figures were received neutrally. Global production is likely to be higher. More soy is expected in the USA in particular. At the same time, forecasts for the harvest in South America in the current season were lower than had been expected in advance. However, due to the very positive sentiment for maize and wheat, soybeans also closed on a positive note. It was also announced that the US government intends to increase import duties on cooking oil from China. This provided a boost for soybean oil in particular.
Source
VR AGRAR
