Weekly overview of the global oilseed market on October 17, 2024

Published 2024년 10월 17일

Tridge summary

The article highlights the impact of weather conditions on global oilseed markets, with Brazil's delayed rainy season affecting soybean planting and France's sunflower harvests facing rain delays. Despite these challenges, expected rainfall in Brazil may boost future production. Meanwhile, EU sunflower seed imports have surged, and US soybean prices have dropped amid a progressing harvest. Rising oil prices are influencing the oilseed complex, with canola prices increasing and sunflower seeds maintaining high values. Ukrainian oil mills are adjusting to sunflower shortages by processing other oilseeds, while Egypt has secured discounted sunflower oil. Overall, the market is experiencing shifts due to weather patterns and fluctuating oil prices.

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

Original content

The weather Brazil's rainy season is in full force, but its late start has resulted in a severe backlog of nearly 10% year-on-year in soybean plantings. The market continues to closely monitor weather conditions in the country (No. 1 soybean exporter), where more rainfall is expected to ease the drought and positively impact future production. The sunflower harvest in France continues to experience problems and the backlog is becoming more pronounced, and the forecast for the next three days in the country shows another portion of rain. Although the weather patterns for the second half of October remain almost entirely dry in relation to Bulgaria, soil moisture in almost the entire country is at good levels - favorable for the autumn seasons. Highlights from global markets After managing to realize a weekly gain of €12.5/t to reach €499.25/t on Friday, MATIF canola has firmed up in recent days. This is not surprising given the weakness in oil, canola in Canada and the ...

Source: Agroportal