Global Oilseed Market Weekly Outlook: Can Bean Demand Continue to Face a Test?

Gold Ten Futures, October 28, according to foreign media reports, the week ended October 25, 2024, global oilseed prices rose strongly, reversing the previous three consecutive weeks of decline, mainly due to the US election and the new government's trade policy uncertainty, prompting buyers to purchase defensively, exporters shipped ahead of schedule led to a surge in export business, boosting the US Gulf soybean export base to a more than one-year high. However, these election-related surges in demand may only be a temporary phenomenon, especially considering that the United States is harvesting record soybean production and the outlook for improved rainfall during the planting season in South America, global soybean growers are likely to increase their sales on the high.