Still confidence in Brazilian soyabean crop

November has seen volatility for oilseed markets on the back of the dry weather ongoing in Brazil, which has impacted the plantings and early development of their record soyabean crop. Conab report that 65.4% of the record crop is in the ground to 18 November. Although plantings have progressed week-on-week, they are still behind the same point last year of 75.9% complete. Over the past 4 weeks, moments of dryness have supported oilseed markets, then forecast rains have then in turn pressured the market. In November, Paris rapeseed futures (May-24) closed between €437.50/t to €452.00/t, this has been due to movements in Chicago soyabean futures too. Despite the volatility, there is still a huge amount of confidence in this Brazilian soyabean crop being a record. Last week, agribusiness consultancy AgRural marginally revised their Brazilian soyabean crop down by 1.1 Mt, but still estimated the crop at a record 163.5 Mt. On Wednesday, Agroconsult reported that despite the weather ...