Last week soybean market has been characterized by the following factors:
- US export sales during the period of November 8-15 have amounted to 543.6 ths. tons, which is almost the same as last week. In this reference, export is 14.7% higher than the five-year average.
- Inspected sales as of November 22 have amounted to 45.5 mln. bushels, which is 21 mln. less than last week.
- Situation in South America is the following: according to Celeres agency, 74% of soybean yield has been planted in Brazil, versus 80% one year ago, in Argentina as of November 22, 47% of acreage has been planted, versus 56% last year. Particular attention should be given to rumours about natural phenomenon La Nina.
Therefore, according to Commodity Trading Department of , the market has not experienced any drastic changes. Market continues being supported by high export sales in the USA, as well as worse weather conditions in Argentina and Brazil; вprofitable forecast for 2012/13 makes up a constraining factor.
