Oilseeds - Oils

Soybeans: Brazil's crop estimates higher than expected

January 22, 2020 2:41 PM, Der AUDITOR
Play report as audio

CHICAGO. The US soy market declined sharply again after a strong start in the morning. Forecasts for a high soybean crop in Brazil increased the pressure on soybean futures. As expected, China did not buy soybeans in the USA, but is waiting for cheap prices after the Chinese New Year festival, when Brazil's soybean harvest has picked up speed.

In the USA, soybeans were quoted at 917.75 cents per bushel in Chicago, which is 9 cents lower than yesterday. The South American soybean crops caused massive pressure. In Brazil, AgRural had raised its estimate to 123.9 million metric tonnes of soybeans, a good 900,000 metric tonnes above the USDA estimates. Brazil's soybeans were harvested on 1.8% of the cultivated area. In Argentina rain improved the cultivation conditions for soybeans. Last week, a good 93% of the area under cultivation was sown, and the rain could still compensate for the predicted decline in cultivation


View related articles

Go to the News Overview
Dec 9, 2021
CHRUDIM/ANKARA. Subdued demand for poppy seeds has failed to impact prices in the Czech Republic. Exports range around 10% lower than last year.
Dec 8, 2021
SOFIA/KIEV. Harvest progress is still being reported from Russia and Ukraine. The Bulgarian market is quiet and hopes are on the new year. Transport issues are a problem, as in many places.
Dec 7, 2021
BEIJING. In addition to the low demand from overseas, there are also no enquiries from the domestic market despite the upcoming Chinese New Year. At the same time, freight rates are slightly higher again.
Dec 2, 2021
OTTAWA/NUR-SULTAN. The current flaxseed report from Agriculture and Agri-Food Canada does not bring any relief. In Eastern Europe, flaxseed prices have stabilised at their high level.