Global oilseed market: Demand-driven rally in soybeans, awaiting the implementation of the China-US agreement

On Friday (November 28), the January soybean futures on the Chicago Board of Trade (CBOT) closed at $11.3775 per bushel, up 1.13% from a week earlier; the spot price of No. 1 soybeans in the U.S. Gulf for December shipment averaged $12.035 per bushel, up 0.1%. December soybean meal closed at $318.7 per short ton, down 0.16%; December soybean oil closed at 52.05 cents per pound, up 2.91%; Euronext February rapeseed futures closed at €483.25 per ton, up 0.9%; Canadian January canola closed at CAD 650.7 per ton, up 1.50%; Argentine Parana River soybeans FOB spot prices were $442 per ton (including a 33% export tax), up 1.14%. The ICE U.S. Dollar Index closed at 99.408 points, down 0.70% from a week earlier. U.S. soybean prices lack appeal despite accelerated purchases after the first U.S.-China leaders' phone call Demand is one of the key factors supporting soybean prices. Although the U.S. Department of Agriculture confirmed that soybean sales to China did not meet expectations, ...