Global oilseed market weekly review as of July 25

Published 2024년 7월 25일

Tridge summary

The article examines the recent adverse weather conditions affecting agricultural markets, with a focus on the Black Sea region, Western Europe, and the U.S. It highlights the challenges faced by rapeseed and sunflower crops, resulting in lower yield forecasts. This has led to significant impacts on global markets, including the consolidation of MATIF canola prices, decreased soybean processing in the U.S., and increased sunflower oil prices in European and Black Sea ports. Additionally, the article notes reduced sunflower oil exports from Moldova and a strong market reaction to declining production forecasts in the Black Sea region and the EU.

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

Original content

The weather In the coming days, some parts of the Black Sea region will continue to enjoy rainfall, but to what extent this will massively help the springers is no longer so clear. Rain is also forecast in Western Europe, which continues to cause difficulties for the rapeseed harvest. U.S. weather remains favorable for soybean development, with crops in good/excellent condition at 68%, up from 54% a year ago. Highlights from global markets After managing to gain €30 for the week and reach the psychological €500/t, MATIF canola is currently consolidating and being negatively impacted by the drop in oil prices. The EC's Seed Service (MARS) lowered the average EU rapeseed yield to 310 kg/ha, citing a worsening outlook for crops in France, Germany, the Czech Republic and Hungary, where harvests showed disappointing results. Regarding sunflower, the yield forecast has been lowered by 5% compared to last month to 209 kg/ha, which is 2% below last year. The National Oilseed ...

Source: Agroportal