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Soybean prices rebounded in international trade after the prior session's decline, while US weekly soybean export sales came in at 225,000 tonnes, below trade expectations of 400,000 to 800,000 tonnes. A USDA report showed US soybean planting expected to rise nearly 10% from last year, and Brazilian farmers are holding crops in anticipation of higher prices.
Weak US export sales against a larger expected US planting area point to ample supply, though Brazilian farmer holding could support prices and US export demand in the near term. Traders will watch whether export sales pick up.
mundus-agri.euApr 22, 2017Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
