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The price for soybeans is improving despite the major production that is expected worldwide. The main reason that prices are picking up is good exports. The recovering demand in the Chinese feed sector and improved economic conditions are making the sale of soybeans easier. Monthly forecast revised upwards The International Grains Council (IGC) has revised the monthly forecast for the global soybean harvest for the 2020-21 season upwards by 8 million tonnes to a record 373 million tonnes. That is 10% more than was harvested last year (2019-20: 339 million tons of soybeans). The increase is mainly due to an improved outlook for the United States.The recovering demand in the Chinese feed sector and improved economic conditions are making the sale of soybeans easier. Photo: Hans PrinsenSoybean trade has increased from 161 million tons (July) to 164 million tons (August), mainly due to good exports from South America; Brazil ships a lot of...

The International Grains Council (IGC) soy price index, which stood at 187 points on 10 August 2020, made a steady climb to 194 points last Monday, which is the same level it was at in October 2018. The price increase is attributable mainly to good demands and to possible storm damage to soybean crops in the United States. Rising soy priceIGC price index soy, index 100 = price January 2000.Less US stocks of soy than expected Several incentives on the international market are causing the price of soybeans to rise. The National Oilseed Processors Association in the US (NOPA) published smaller soybean stocks than previously expected. Domestic soy consumption in the last period was higher than expected, which supports the continued rise of the soy price.Furthermore, the American sales figures of soy are good, in particular with regard to China. According to the latest USDA Wasde report, 165.6 million tons of soy will be exported...

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