Oilseeds daily: prices for soymeal decline
July 14, 2020 at 1:13 PM ,
Der AUDITOR
Soybeans: Soybean meal falls by EUR 4.00 per metric tonne
The US soybean market continued its losses in Chicago due to profit-taking and rainy weather in the Corn Belt, which could help soybean plants to grow better. The Crop Progress Report showed a 2% deterioration in US soybean supplies. The US soybean export inspection revealed 483,331 metric tonnes, down 43% from the same week last year. Brazil exported 13.8 million metric tonnes of soybeans in June and 63.6 million metric tonnes since the start of the season. Because Brazil's soybean crop was increased to 126 million metric tonnes in the WASDE report, export expectations rose to 89 million metric tonnes. As a result, 25.4 million metric tonnes are still available for export until the coming soybean crop in February 2021, a good 2.4 million metric tonnes more than was expected in June. Soybean meal (LP) fell by EUR 4.00 per metric tonne in Holland and in the Rhine Region.
|
Soy futures (front month) |
||
|
Soybeans (USD/bu) |
877.75 |
-1.8 % |
|
Soymeal (USD/bu) |
285.70 |
-2.5 % |
|
Soy oil (USD/bu) |
28.26 |
0.1 % |
|
CBOT |
||
|
Soymeal LP (44/7) EUR/t, physical market |
||||
|
FOB |
7/20 |
8/20 |
9/20 |
10/20 |
|
Rotterdam |
285.00 |
284.00 |
287.00 |
288.00 |
|
Hamburg |
282.00 |
282.00 |
283.00 |
283.00 |
|
Mainz |
291.00 |
291.00 |
295.00 |
295.00 |
|
Straubing |
313.00 |
313.00 |
317.00 |
37.00 |
|
Trade sources |
||||
Rapeseed: low import volumes
Canola and rapeseed prices continued to be weak, while the Malaysian palm oil market supported the canola market a little. According to the Malaysian Palm Oil Council, MPOB, palm oil stocks fell by 6.3% to 1.901 million metric tonnes in June. At 8,902 metric tonnes, EU rapeseed imports fell 86% short of last year's level. Approximately 63% of the imported rapeseed came from Moldova, approximately 29% from Serbia, approximately 5.3% from Canada and 1.2% from Argentina as well as 0.7% from Ukraine. Over the weekend, the rapeseed harvest began in Germany. Heterogeneous yields are reported in the southwest.
|
Futures (front month) |
||
|
Canola (CAD/mt) |
477.00 |
-0.6 % |
|
Rapeseed (EUR/mt) |
381.50 |
-0.3 % |
|
Palm oil futures (front month) |
||
|
Palm oil (Ringgit/mt) |
2,429 |
0.7 % |
|
Rapeseed 00 (40/9/2), spot market, new crop |
||
|
Parity |
EUR/mt |
Diff. EUR/mt |
|
Rouen FOB* |
377.00 |
0.00 |
|
Moselle FOB* |
386.00 |
0.00 |
|
Hamburg CIF* |
384.00 |
-3.00 |
|
Neuss DDP* |
388.00 |
-3.00 |
|
Hamm DDP* |
392.00 |
-3.00 |
|
Mannheim DDP* |
386.00 |
-3.00 |
|
Trade sources |
||
View related articles
