World: Oilseeds market weekly analysis on January 11, 2024

The weather Heavy rains in December had a beneficial effect on soybeans. According to data from the Rosario Grain Exchange, the expected yield for the crop amounts to 50 Mt. The Buenos Aires exchange, which has not updated its forecast since September, when it predicted 50 Mt of soybeans, expects that weather conditions in January will likely continue to be favorable for potential yields. So far, moderate temperatures are expected with a low risk of extreme heat, combined with prolonged rainfall to help replenish soil moisture reserves. Meteorologists predict that the month of March may bring a decrease in rains and an increase in temperatures. Despite the weak outlook for production in Brazil, recent rains have eased yield tensions slightly. Highlights of the week Rapeseed markets came under pressure due to falling soybean prices, which saw the May contract in Paris end the week at EUR424.25/t, down EUR16.50/t. Futures for the new season (Nov-24) also fell to ...