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AMIS Market Monitor

last release: April 2018

International Prices

Average soybean export values moved higher, the IGC GOI soybean sub-Index up by 5 percent, its second successive monthly increase. Markets were underpinned by deepening worries about the impact of prolonged hot, dry weather in Argentina, with a number of private analysts downgrading forecasts for the 2017/18 crop. Associated strength in soy meal prices, together with initial signs of an uptick in demand for US supplies, added support. However, markets were mildly pressured by outlooks for a bumper outturn in Brazil, harvesting of which was about two-thirds complete, coupled with background worries about future trade between the US and China. Furthermore, talk that US acreage could expand to a new record in 2018/19 also capped gains.