Oilseeds - Oils

Oilseeds daily: prices for soymeal decline

July 14, 2020 1:13 PM, Der AUDITOR
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CHICAGO/HAMBURG. Market and price trends with first estimates.

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
*Price valuations for the new crop

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