World: Weekly overview of the oilseed market on 13 June

Published 2024년 6월 13일

Tridge summary

Excessive rainfall in Europe is impacting crop development and increasing disease risks, while North America and Argentina are enjoying favorable conditions for soybean planting and harvesting, respectively. Australia has mixed conditions with some regions receiving good rains while others are still in drought. The USDA reports a global oilseed production fall for 2024/25 due to lower canola production in Australia and the EU. The potential of the EU rapeseed crop remains uncertain due to heavy rain, leading to rising estimates for EU imports in the new season. Additionally, lower inventories and ongoing declines in sunflower production in Russia and Ukraine could support quotes.

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

Original content

The weather In Europe, excessive rainfall continues to pose challenges, impacting crop development and increasing disease risks. North America enjoyed favorable soybean planting conditions, while those in Argentina enjoyed favorable harvest conditions. Meanwhile, Australia saw mixed conditions, with some regions receiving good rains while others continued to experience drought conditions. In southern Russia, good amounts of precipitation are forecast for the next week, which, on the one hand, may harm autumn plants, but are welcome for spring plants. Highlights from global markets Last night's latest USDA report showed global oilseed production for 2024/25 is expected to fall by 1.3 Mt to total 685.8 Mt. This decrease was mainly due to lower canola production in Australia and the European Union. Rapeseed production in Australia was down due to less planted area, while that in the EU was mainly affected by a deteriorating outlook for France. Last week was definitely not a ...

Source: Agroportal