After the holiday-related trading break, soybeans headed south yesterday. The July contract lost 18.50 US cents/bu to close at 1,229.50 US cents/bu. Soybean meal also fell significantly and closed at 376.60 $/short ton with a loss of 9.90 US dollars. More positive weather prospects for the USA weighed on prices, while the weather outlook in Argentina also improved. In addition, the recent bad weather front has not led to any delays in sowing. 68% of the areas have been sown, which is even 5 percentage points more than the average of the last 5 years. At 212.105 tons, soybean exports were slightly higher than in the previous week, but exports for the year as a whole are still lagging well behind the previous year's figure. Rapeseed and canola also slipped into the red due to weak demand. Rapeseed closed the August contract with a marginal setback of 0.75 euros at 488.24 euros/t.
Source
VR AGRAR
