Global oilseed market weekly analysis, July 27-August 03

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 ...