USA: Soybean oil jumps 3% on Chicago

Wheat prices finally started to fall again this Thursday evening in Chicago, in the face of reassuring weather forecasts in the Midwest. The rains announced during the beginning of November are indeed reassuring across the Atlantic, after the worrying winter wheat crop ratings published by the USDA at the beginning of the week. Competition from Black Sea sources and the arrival of harvests from the Southern Hemisphere are also adding to the current pressure on straw cereal prices. However, weekly US sales of wheat (411 kt), as well as corn (2.3 Mt) and soybeans (2.3 Mt) remained particularly dynamic and in line with market expectations last week. The USDA also reported sales of 150 kt of soybean meal to unknown destinations during the session. Bean prices also stood out by remaining on the rise, despite the pressure from US ...