Global oilseed market weekly analysis, July 27-August 03

Brazil

Germany

Published Aug 4, 2023

Tridge summary

The weather conditions in the US are being closely monitored by the market due to the impact it has on the soybean crop. The latest crop conditions show that 52% of soybeans are in good and excellent condition, which is a weekly decline. Rain in the Midwest could support production potential. The European vegetable oils market is projected to grow, driven by the stable industrial application of vegetable oils and the increasing consumption of plant-based food products containing high-quality oils.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Weather Weather conditions in the US continue to be closely watched by the market. That's because 53 percent of the soybean crop was in drought conditions a week ago. By July 30, 50% of the soybeans were in the pod formation phase. And the current period is key for the formation of yields. The latest U.S. crop conditions were released late Monday, with soybeans reporting a weekly decline as of July 30, with 52% now rated in good and excellent condition. We can see a market reaction to this, although the forecast remains softer for some of the Midwest for the first week. Rain is forecast across much of the Midwest, which could support production potential. Weekly MATIF rapeseed price change Highlights of the week The main oilseed crops grown in the UK are canola, hemp and linseed. However, significant imported volumes of groundnut, soybean, sunflower and palm are processed in the country, resulting in the production of a variety of different oils. Rapeseed oil is the most widely ...

Source: Agroportal