Global oilseeds market weekly analysis on January 4, 2024

The weather Widespread rains in central Brazil should help fill soybeans. Southern areas will remain warm until the end of this week, after which there will be a return to seasonal, sporadic and short-lived showers. In Argentina, frequent rains over the past few weeks have improved the condition of much of the soybean crop. Rain will continue, but in more limited areas, with conditions normalizing next week. As for Europe, rain and flooding in France and Germany could seriously affect canola. Highlights from global markets Overall, oilseeds markets ended 2023 with significant losses, particularly for the canola market, but also with some upbeat price data that hinted at a reduction in EU acreage in 2024, as well as other reductions , such as soybean production in Brazil. And the New Year came with losses for the complex of oil crops and vegetable oils. MATIF canola quotes followed declines in the CBOT soybean complex, pressured by drought relief in Brazil following the ...