Oilseeds - Oils

Oilseeds daily: controversies in Russia

June 17, 2020 9:47 AM, Der AUDITOR
Play report as audio

HAMBURG/CHICAGO. While soybean futures have recently lost ground in Chicago and rapeseed futures in Paris, leaked documents reveal that Russia intends to triple export tariffs on sunflower seeds. Meanwhile, Trump's USD 1 trillion infrastrutuce plan weighs on the euro.

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

 View more information
price chart, soybeans, CBOT
price chart, rapeseed, ENX
price chart, sunflower kernels, bakery, China
more price charts

Categories:

View related articles

Go to the News Overview
Oilseeds
Dec 2, 2021
OTTAWA/NUR-SULTAN. The current flaxseed report from Agriculture and Agri-Food Canada does not bring any relief. In Eastern Europe, flaxseed prices have stabilised at their high level.
Oilseeds
Dec 2, 2021
CHRUDIM. The upcoming Christmas holidays reduce trading activity in the Czech blue poppy seed market, but this does not affect prices. According to initial information, next year's acreage could be similar to 2021.
Oilseeds
Dec 1, 2021
SOFIA/BEIJING. At the end of November, Eurostat again published an adjusted estimate for the EU sunflower seed crop. In China, high domestic buying interest, but also increased export demand are causing prices to rise.
Oilseeds
Dec 1, 2021
NEW DELHI. Market players report a significant decline in the sesame seed crop in India, which is why exporters are gradually having to part with their stocks. India was able to win a large part of the current tender.