Oilseeds daily: controversies in Russia
June 17, 2020 at 9:47 AM ,
Der AUDITOR
Euro and crude oil
Donald Trump's infrastructure plan over USD 1 trillion to boost the economy has weighed on the euro as the euro has nominaly declined against the US dollar. Although the ZEW Indicator of Economic Sentiment for Germany has increased for the third consecutive time in June, the impact has been limited on the markets so far. The euro stands at 1.1272 agains the USD dollar.
|
Crude oil |
||
|
Brent |
40.6 |
2.2 % |
|
WTI |
37.8 |
2.1 % |
Soy
Improved weather conditions and rain in the Midwest have exerted some pressure in Chicago. By contrast, the NOPA crush report indicates that soybean crushing has is down in May on April. The USDA has not reported any new soybean exports. Soymeal futures have declined nominally in the spot market and edible oils have gained.
|
Soy futures |
||
|
Soybeans (USD/bu) |
866.25 |
-0.7 % |
|
Soymeal (USD/bu) |
287.90 |
-0.5 % |
|
Soy oil (USD/bu) |
27.87 |
-0.3 % |
|
CBOT |
||
|
Soymeal LP (44/7) EUR/t |
||||
|
FOB. Germany |
6/20 |
7/20 |
8/20 |
9-10/20 |
|
Rotterdam |
- |
292.00 |
295.00 |
295.00 |
|
Hamburg |
290.00 |
288.00 |
286.00 |
288.00 |
|
Mainz |
301.00 |
300.00 |
300.00 |
302.00 |
|
Straubing |
319.00 |
318.00 |
318.00 |
320.00 |
|
Trade sources |
||||
Sunflower seeds/oil
As APK-Inform has recently reported, leaked documents reveal that Russia intends to raise the export tariffs for sunflower seeds from 6.5% to 20% in February 2021-September 2021 in the Eurasian Economic Union. The intention has given raise to consternation in Kazakhstan and critics state that the farmers will have to pay the price. TIn addition, the ban on sunflower seed exports has been extended until 31 August.
|
Sunflower seeds (44/9/2) |
||
|
Place |
EUR/mt |
Diff. |
|
Bordeaux FOB |
330.00 |
-5.00 |
|
St. Nazaire FOB |
335.00 |
0.00 |
|
Trade sources |
||
Rapeseed/Canola
The weaker euro has given the rapeseed market in Europe some support. Problem however, is that demand is very low in France and in Germany. Rapeseed meal is tradign in a stable range as the feed industry has sufficient supplies.
|
Rapeseed 00 (40/9/2) |
||
|
Place |
EUR/mt |
Diff. |
|
Rouen FOB |
364.00 |
-3.00 |
|
Mosel FOB |
375.00 |
-3.00 |
|
Hamburg CIF |
375.00 |
-2.00 |
|
Neuss DDP |
383.00 |
-2.00 |
|
Hamm DDP |
391.00 |
1.00 |
|
Mannheim DDP |
382.00 |
-2.00 |
|
Trade sources |
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View more information
- price chart, soybeans, CBOT
- price chart, rapeseed, ENX
- price chart, sunflower kernels, bakery, China
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