In Derivatives market international December ’22, the global price trend points downwards

Published 2022년 12월 6일

Tridge summary

Rapeseed and wheat prices have hit their lowest since mid-September, largely due to a decline in vegetable oil prices. The market is expected to test the low of 571.50 euros/t, with potential further drops to 552 euros/t. The soybean market remains under pressure due to a record harvest in Brazil and strong demand in China. Meanwhile, EU exports have decreased, with the euro's appreciation against the US dollar adding to the pressure. The corn market is also struggling due to high imports and a decrease in US exports. The market's direction is influenced by weather conditions in South America.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In November, rapeseed prices fell further to the low of mid-September. The pressure on prices was primarily exerted by falling vegetable oil prices. In the last week, the soybean oil price on the Cbot alone fell from 1522 euros/t to 1361 euros/t. In the next few days we expect that the Matif rate will definitely test the low of 571.50 euros/t. If the price falls below this, the market could fall to 552 euros/t. Source: ks-agrar.de The growing conditions for soybeans in Brazil remain very good, so we can expect a record harvest there. The USDA assumes a harvest of 126 million tons. That is 10 million t more than in the previous season. In China today, with stock markets picking up slightly and the Chinese currency also firming, there have been some reports that Chinese authorities have eased some of their toughest COVID-19 measures after protests erupted in several cities last week. As mentioned many times here, there is no sign of a significant slowdown in soybean demand as far as ...

Source: Bauernzeitung