Red signs for the soy complex

After the friendly start to the week, the soy complex was no longer able to maintain its gains and moved south. The USDA export report disappointed many market participants yesterday. Soy exports amounted to 706,334 tons, which was both below the previous week's value of 1.16 million tons and overall below the previous year's level. In Brazil, the soybean harvest continues to progress and has now reached almost half. Analysts from StoneX expect a slight increase in production to 151.55 million tons. The Argentine harvest, which is estimated at 52.5 million tons according to initial forecasts, is expected to start in the coming days.

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