Global oilseed market: Strong demand for crushing and prospects of trade negotiations boost soybean prices rebound

On Friday (October 17), the Chicago Board of Trade (CBOT) November soybean futures closed at $10.1950 per bushel, up 1.3% from a week earlier; the spot price for November shipment No. 1 soybeans in the U.S. Gulf was $10.945 per bushel, up 1.0%. December soybean meal closed at $281 per short ton, up 2.2%; December soybean oil closed at 51.13 cents per pound, up 2.3%; Euronext February rapeseed futures closed at €463.00 per ton, down 0.8%; ICE Canada January canola futures closed at CAD 630.3 per ton, up 1.2%; the spot FOB price for Argentine Parana River soybeans was $406 per ton (including a 33% export tax), unchanged from the previous week. On Friday, the ICE U.S. Dollar Index closed at 98.192, down 0.6% from a week earlier. Strong domestic demand for U.S. soybeans is providing a floor for prices. The National Oilseed Processors Association (NOPA) reported on Wednesday that September soybean crush reached 1.9786 billion bushels, far exceeding market expectations of 1.863 billion ...