Global oilseeds weekly market review - 14 November

Published 2024년 11월 14일

Tridge summary

Brazil's new soybean crop is in good condition with improved soil moisture, leading to fast and homogeneous germination and emergence. The USDA estimates soybean production at 169 million tons and exports at 105.5 million tons. In contrast, Argentina's weather is erratic, with only 8% of the planned soybean area sown. Global market highlights include an increase in MATIF canola prices, a reduction in canola production forecasts for Australia and the EU, and a decrease in US soybean production forecasts. Russian farmers are expected to harvest large crops of soybeans and rapeseed, compensating for a weaker sunflower harvest. Turkey's new sunflower crop is estimated as the weakest in eight years.

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

Original content

Weather In Brazil, the new soybean crop has benefited from a few good weeks for sowing and with improved soil moisture, germination and emergence are fast and homogeneous, so the crops are rated in good condition. After a slow start to sowing, the situation in the country is now significantly better. Soybean areas for the 2024/25 season are estimated at 46.8 million ha, which is 1 million ha or 2.1% more than last year. In its latest report, the USDA estimated soybean production in Brazil at 169 million tons, with exports forecast at 105.5 million tons. According to AgRural, sowing in the country is 67% complete, up from last year's pace of 61%. In neighboring Argentina, the weather continues to be erratic. There was enough rainfall for sowing and good emergence, but not enough to restore soil moisture, which remains below the required values for this time of year. The forecast calls for light rain this week with an improved chance of rain over the next 6 to 10 days. As of the end ...

Source: Agroportal