Oilseeds - Oils

Oilseeds daily: low supplies in Brazil

July 6, 2020 11:56 AM, Der AUDITOR
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CHICAGO/HAMBURG. Market and price trends with first estimates of the trade, including additional information on the market situation in Ukraine and Canada.

Soybeans: Heat in the USA, Brazil's stocks are melting

The US soybean market was able to expand its positions in soybeans, meal and oil again this morning after the Independence Day celebrations at the weekend. Dry and hot weather forecasts caused prices to rise. In the USA, the realization that Brazilian soybeans are becoming scarce is gaining ground. According to the grain export association Anec, Brazil has already exported 62 million metric tonnes of the expected 85 million metric tonnes of soybeans in the current fiscal year. This means that only 23 million metric tonnes remain for export until the next harvest in 2021. The higher euro exchange rate limited the rise in soy meal prices in Germany.

Soy (front dates)

Soybeans (USD/bu)

898.00

0.4 %

Soybean meal (USD/bu)

295.70

0.9 %

Soybean oil (USD/bu)

28.12

-0.4 %

 

Soymeal LP (44/7) FOB EUR/mt, physical market

FOB

7/20

8/20

9/20

10/20

Rotterdam

298.00

297.00

298.00

300.00

Hamburg

292.00

292.00

293.00

294.00

Mainz

304.00

304.00

307.00

307.00

Straubing

322.00

322.00

324.00

324.00

Trade sources

 

Vegetable oil, spot market (EUR/mt)

Parity

Today

Balance

Soybean oil, FOB Hbg. (EUR/mt)

760

0.0 %

Rapeseed oil, FOB Hbg. (EUR/mt)

855

0.0 %

Palm oil, CIF Red. (USD/mt)

590

-0.9 %

Palm kernel oil, CIF Rott. (USD/mt)

660

-4.5 %

Sunflower oil (USD/mt)

810

-0.7 %

Coconut oil (USD/mt)

900

0.0 %

Trade sources

Rapeseed: price decline in Paris

The canola and rapeseed market started the new week withprice losses in Winnipeg and Paris. The reason for the weaker price development was the Ukrainian hryvnia, which makes rapeseed imports to Western Europe cheaper. The higher euro exchange rate also put pressure on import prices for rapeseed. The German rapeseed crop increased by 10.6% to 3.13 million metric tonnes, the Polish by 7.4% to 2.47 million metric tonnes and France's by 2.6% to 3.55 million metric tonnes. As a result, supplies should recover somewhat. In Canada the weather is going crazy. There were severe rainfalls with flood warnings in the southwest and west. Farmers there already fear greater damage from waterlogging. Ukrainian rapeseed is to be offered at prices around EUR 378 per metric tonne CPT Odessa.

Canola/rapeseed (front dates)

Canola (CAD/mt)

458.90

-0.4 %

Rapeseed (EUR/mt)

376.75

-2.9 %

 

Palm oil (front dates)

Palm oil (Ringgit/mt)

2,358

-0.2 %

 

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

Parity

EUR/mt

Diff. EUR/mt

Rouen FOB

369.00

-1.00

Moselle FOB

378.00

-1.00

Hamburg CIF

378.00

0.00

Neuss DDP

384.00

1.00

Hamm DDP

384.00

1.00

Mannheim DDP

384.00

1.00

Trade sources

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