Soybeans ended the week on a high in the international market, with the fall of the dollar and the relaxation of the Covid-Zero policy in China, according to TF Agroeconomia. “The November 22 soybean contract closed sharply up 1.75% or $25.0 cents/bushel at $1455.0. The May23 quotation, which is already being traded in Brazil, closed up 1.80%, or $25.75 cents/bushel at $1460.0. The October soybean meal contract closed up 0.87% or $3.5/ton short at $407.6 and the October soybean oil contract closed up 1.30% or $0, 99 lbs at $77.08,” he comments. “The soy market closed higher in the face of the weakening of the dollar, which boosts American exports and the relaxation of China's Covid-zero policy, which increases demand in that country”, completes the consultancy. FAS export sales data showed that 795,000 tonnes of soybeans were ordered during the week ended 11/3. “This was within the range of estimates and did not include any of this week's big announcements. China was the top buyer ...
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes.
To learn more about our cookies, please read our Privacy Policy.