Soybean prices rise on global markets

Soybean prices on the Chicago Board of Trade (CBOT) increased for the second straight session, with the most actively traded January 2027 contract reaching 1,268.50 cts$/boiss. and the March 2027 contract hitting 1,276 cts$/boiss.

Rapeseed prices climb in Europe

On Euronext, rapeseed prices also rose, with the February 2027 contract reaching 549.50 €/t and the May 2027 contract hitting 551.25 €/t. This increase was linked to broader trends in the global oilseed market and rising oil prices.

Oil prices and geopolitical tensions

Brent crude oil prices exceeded 116 $/barrel, and West Texas Intermediate (WTI) surpassed 103 $/barrel. These increases were partly driven by persistent rumors of potential U.S. military actions in the Middle East, which raised concerns about supply disruptions.

U.S. dollar strengthens against the euro

The U.S. dollar gained strength against the euro, with the euro-dollar pair closing at 1.1204 on Friday, down from 1.1218 the previous day. This movement reflected broader currency trends and market expectations.

Soybean market activity and expectations

In the soybean market, buying activity from investment funds was observed, supported by rising soybean meal and soy oil prices. These were in turn influenced by higher oil prices. However, no new Chinese purchase announcements were made, though market participants expected potential purchases soon.

U.S. harvest progress

The U.S. soybean harvest was progressing well, which reassured local processors and suggested it might be completed by the end of the week. This progress could help stabilize supply and reduce price volatility.

Brazilian supply expectations

Analysts anticipate a larger-than-expected Brazilian soybean supply for the 2026/2027 season, which may moderate overall price increases. Brazil’s agricultural sector is closely watched, especially after President Lula’s unexpected election victory.

French rapeseed area concerns

In France, there are signs that the area planted with rapeseed may decrease by about 400,000 hectares, depending on the impact of pests like large altises and their control by the end of winter. This could affect production and prices in the region.

Canadian market updates

Canola prices in Winnipeg rose slightly across all contracts. The Canadian harvest in the Prairies is nearly complete, and operators are monitoring the Canadian dollar rate to evaluate export opportunities.

Palm oil and sunflower oil movements

Palm oil prices in Kuala Lumpur ended the week higher, supported by technical buying and the presence of Chinese and Indian buyers. Oleic sunflower prices at Saint-Nazaire remained unchanged, while India reported a significant drop in sunflower oil imports due to reduced Ukrainian supply.

Currency and commodity closing figures

The euro-dollar exchange rate closed at 1.1193, with 1 U.S. dollar equivalent to 0.8934 euro. Soybean meal prices on the CBOT closed at 346.10 $/t, and soy oil prices reached 66.83 cts/lb. Rapeseed contracts on Euronext closed at specific prices, with a trading volume of 11,752 contracts.

Maritime freight indices decline

Maritime freight indices showed declines, with the Baltic Dry Index (BDI) at 2660 and other indices also falling. A planned day of strikes in ports across France, Europe, and other regions is scheduled for October 30, which may further affect shipping activity.