Crucial week for soybeans globally: demand, weather and geopolitics keep the market on edge

게시됨 2024년 11월 5일

Tridge 요약

Soybean oil prices have surged by 8% due to record palm oil prices, a vibrant energy market, and strong export demand. This increase is attributed to factors such as rising weekly exports, the use of soybean oil in the energy and food sectors, and the fall in stocks reported by NASS. However, favorable weather conditions in South America and an increase in global inventories could limit the price rise in the short term. Additionally, changes in Chinese soybean purchases and potential new tariffs on Chinese products could impact the soybean market. Chinese soybean processors are strategically purchasing soybeans for future dates to avoid higher transportation costs and manage price volatility. The rise in palm oil prices, driven by consumption in Indonesia and limited supply in China, also influences soybean futures.

면책 조항: 위의 요약은 정보 제공 목적으로 Tridge 자체 학습 AI 모델에 의해 생성되었습니다.

원본 콘텐츠

Soybean oil led the soybean complex last week, driven by record palm oil prices, a buoyant energy market and strong export demand. Over the past three days, soybean oil futures have risen 8%, reaching levels not seen since July. This trend is reinforced by the fall in stocks reported on Friday, November 1 by NASS in the United States, which showed worryingly tight levels. The emergency sale of 20 thousand tons of soybean oil to India that same day reflected the growing pressure on US stocks, with stocks of 1.5 billion pounds, leaving projected stocks for 2023/24 at their lowest level in a decade. The soybean market is at a decisive moment, with opposing forces competing to influence prices. On the one hand, bullish factors are driving demand, such as the increase in weekly exports from the United States and the growth in the soybean oil sector due to its use in the energy and food industries. This has generated interest in soybean futures on the Chicago Board of Trade (CBOT), ...

출처: Agromeat