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Oilseeds daily: new customs data from China

July 29, 2020 10:06 AM, Der AUDITOR
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CHICAGO/HAMBURG. Market and price trends with first estimates.

Soybeans: new customs data from China
The US soybean market was unable to maintain the mark of USD 9 per bushel in Chicago. No new soybean exports were reported by the USDA. However, there were new import figures from China based on customs data, according to which the country did not import 10.51 million metric tonnes in June as previously reported, but as much as 11.16 million metric tonnes. Of these, 94% of the soybeans came from Brazil. According to these data, China imported around 45.04 million metric tonnes from January to June 2020, 72% of which was of Brazilian origin. The weekly export inspection was in line with expectations at 473,000 metric tonnes of US soybeans. It remains to be seen whether the hurricane season, which started early, will have an impact on the US soybean market. From the Atlantic, a new hurricane called Isaias may be heading for the US Gulf Coast. Heavy rainfall could damage soybean plants in the Mississippi Delta.

Soy futures (front month)

Soybeans (USD/bu)

896.25

-0.1 %

Soymeal (USD/bu)

288.90

-0.4 %

Soy oil (USD/bu)

29.43

0.9 %


Soymeal LP (44/7) EUR/t, physical market

FOB

7/20

8/20

9/20

10/20

Rotterdam

287.00

287.00

289.00

289.00

Hamburg

286.00

286.00

288.00

288.00

Mainz

294.00

294.00

296.00

296.00

Straubing

313.00

313.00

317.00

317.00

Trade sources

Rapeseed: slight price increase in France

In Canada, falling soybean and palm oil prices put pressure on the market. Good growing conditions are predicted for next week in the Canadian prairies with hot weather and occasional storms. In Western Europe there were further rapeseed purchases from the current crop with slightly higher price offers from the oil-mill industry. EU rapeseed imports up to 23 July were down 80.6% on last year at 19,395 metric tonnes. A good 64.3% came from Moldova, about 24.9% from Serbia, about 3.5% from the Ukraine and 2.4% from Canada.

Canola/rapeseed futures (front month)

Canola (CAD/mt)

487.00

-0.1 %

Rapeseed (EUR/mt)

384.50

0.5 %

 

Rapeseed 00 (40/9/2), spot market, new crop

Parity

EUR/mt

Diff. EUR/mt

Rouen FOB*

374.00

2.00

Moselle FOB*

382.00

2.00

Hamburg CIF*

381.00

2.00

Neuss DDP*

385.00

0.00

Hamm DDP*

386.00

-1.00

Mannheim DDP*

383.00

-1.00

Trade sources
*Price evaluations

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