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Global: Realization of profits after peak prices

Updated Nov 8, 2021
The first week of November was characterized by profit realization, open buying positions were closed by non-traders and this led to some price stabilization and in some cases even price declines. The price development for the week was influenced by the fact that market participants, mainly from US analysts, expect corn and soybean yields to be better than previously expected, which could ease the tension in supply and demand.
Not much change is to be expected, but the positive news is that the balance sheet is improving and this has resulted in the so-called funds, which had previously accumulated significant receipts, deciding to reduce their open bond holdings and close them. This comes with a sale that brings prices down. On the dominant North American stock exchanges, this process led to a weakening of 4.5% for maize, 4% for soybeans and almost 7% for spring wheat, which had the largest seasonal price movement. Prices also followed in Europe, and short-term quotations for in-season deadlines also fell by € 1-3 / tonne for wheat and maize. This is not a big value, as it represents a decrease of barely 1%, but as you can see in the figure, there may be a break in the upward march so far. The price of sunflower and rapeseed could also fall, the latter being interesting because in the last days of October, the price of rapeseed broke all previous records. Now, due to the halt in further growth, the ...
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