World: Weekly oilseed market analysis from September 21-28

Published 2023년 9월 28일

Tridge summary

The growing El Niño in the Pacific Ocean is expected to impact autumn weather patterns in North America and Europe, potentially affecting the oilseed growing season. Changes in jet stream positioning due to El Niño will lead to different weather patterns in these regions. Palm oil and oilseed prices have increased due to factors such as strength in the vegetable oil complex and robust commodity demand. Traders in the canola market have adjusted their positions, leading to a decrease in net canola short positions. Sunflower seed imports from Ukraine to Moldova may be banned to prevent falling domestic prices. Brazil's soybean industry is projected to have a positive outlook in the 2023/24 season, depending on ideal weather conditions. The canola market is well-supplied, but the soybean market could potentially affect canola prices.

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

Original content

Weather From an agricultural perspective, a growing El Niño in the Pacific Ocean is expected to have a significant impact on autumn weather patterns in North America and parts of Europe, potentially affecting the oilseed growing season. Forecasts show that this El Niño influence will continue into the winter of 2023/24, leading to changes in jet patterns over the Northern Hemisphere, which could have further implications for oilseed crops and yields. When evaluating long-term weather forecasts, it is essential to recognize the critical role of large and small influences. A critical component of seasonal forecasting is the monitoring of large-scale pressure systems and jet stream positioning. This fall, the Northern Hemisphere, which includes regions such as the United States, Canada and Europe, is expected to see changes in climate patterns due to the influence of the El Niño phenomenon. This atmospheric phenomenon is likely to lead to a changed position of the atmospheric flows ...

Source: Agroportal