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Futures Close Report 23rd Feb 2018

Agroconsult forecast Brazil soybean crop at a record 117.5 million tonnes – well in excess of the current years record 114.1 million tonne total, which if realised will go some way to offsetting deficits caused by poor conditions in Argentina.

Soybean meal values continue to firm as funds increase their longs positions.

China’s imports of soybeans from the United States in January fell 14% from the same month a year ago, customs data showed, as Brazil grabbed a larger slice of the world’s biggest market for the oilseed with higher-protein beans.