On the CBoT, soybeans fell sharply, with the expiring August term 23, in particular, losing ground by 45.25 ct. The subsequent September contract lost 20.50 ct to 1,433 ct/bu (0.47 EUR/kg). In Euronext rapeseed, the November 23 forward lost 0.11EUR to 0.45 EUR/kg.
Safras & Mercado announced a new forecast for the soybean crop in Brazil. According to this, a possible production of 171.50 million tons would again exceed the previous year’s record of 156 million tons by around 10%. It remains to be seen whether this quantity will actually be achieved. However, the announcement weighed on the oilseed market. By way of comparison, the US Department of Agriculture had recently forecast 163 million tons.