Christmas holidays dampened demand: What's happening in oilseeds markets this week

Published Dec 29, 2022

Tridge summary

China has lifted its COVID-19 restrictions, potentially boosting soybean demand. However, concerns persist due to weather uncertainties amidst a drought in Argentina. Sunflower market dynamics in Eastern Europe are stable, with sellers prioritizing contract completions. The European rapeseed market is facing a decrease in processing demand. Soybean demand remains limited, with prices adjusting slightly. The Biden administration's decision to increase biofuel admixture in gasoline and diesel in the US has led to increased demand for soybean oil for biofuels, amidst concerns of yield decrease in Argentina due to late soybean planting.

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

Original content

China has lifted restrictions on COVID-19 and this has raised hopes for improved demand. In Argentina, light rains over the past week have not added much optimism, so against the background of a prolonged drought, the fears of market participants about the new crop remain: the uncertainty of the weather keeps the soybean market in tension and still leaves a premium in the price. This is reported by SPIKE BROKERS. Sunflower without particular changes in the direction of sales markets of Eastern Europe. Sellers are more focused on fulfilling contracts. The Christmas holidays in Europe have reduced demand activity over the past week. The latest indications of buyers: The rapeseed market in Europe is decreasing from the side of processing demand. Rapeseed prices have not changed significantly over the previous week, with ISCC certified rapeseed in higher demand. Follow the news in a convenient format: Follow us on Twitter The latest indications of buyers: Soybean demand remains ...

Source: Landlord