World: Weekly oilseeds market analysis on December 21

Soybean

United States

Germany

Published Dec 22, 2023

Tridge summary

Central Brazil and southern areas are expected to experience heavy rains that will benefit soybean crops. The global market highlights include a decline in canola prices and an increase in sunflower oil imports, while the U.S. soybean market is not expected to be significantly impacted by the weather in Brazil. Argentina plans to raise export tariffs on soy products, and China is continuing to buy soybeans from the U.S., potentially for political reasons.

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 Heavy rains will return to central Brazil and continue until the end of the year, helping soybeans that are in the pod formation stage. Southern areas, which have experienced drier spells over the past two weeks, will also enjoy frequent showers. In Argentina, localized rains will continue this week, maintaining soil moisture, with solid rains forecast for January, with good conditions for soybean crop development. Global Market Highlights MATIF canola followed a decline in canola on the Canadian exchange, where the most active March contract traded near its lowest level in six months as export demand remained weak. Also, soybean futures in Chicago fell after weather forecasts indicated that some dry areas in Brazil would receive much-needed rain in the coming days. Total rapeseed imports from the EU for this season amounted to 2.56 Mt, which is 27% less than last season. According to the EC, the major importers of rapeseed are Belgium (685 kmt), Germany (609 kmt), France ...

Source: Agroportal