Global: Weekly oilseeds market analysis – March 28

Canola Seed & Rapeseed
Published Mar 29, 2024

Tridge summary

Europe is currently experiencing record temperatures impacting several countries, while the US braces for severe weather in some regions and a cold start in others. In the commodities market, MATIF canola futures have declined in the last week of March, influenced by losses in related oils despite a monthly gain. The EU is considering high tariffs on Russian grain imports, potentially affecting canola and sunflower oil prices. EU rapeseed yields are on the rise, with significant import variations in oilseeds. The South American soybean harvest shows progress, with Brazil nearly 70% complete and Argentina expecting a solid crop despite possible adjustments due to flooding. The oilseeds market faces challenges from reduced acreage in several regions, limited palm oil supply, and an influx of South American soybeans.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The weather Europe faces another month of record temperatures in April, marking a continuation of a nine-month record trend. Countries such as Germany, Belgium, the Netherlands, Austria and Italy are expected to see the biggest increase in above-average temperatures. More rain is expected in Western Europe at the end of this month and the beginning of next month. In the US, April showers could lead to severe weather in parts of the Southeast and South Central regions, and the Northwest is expecting a very cloudy and cold start to the spring season. MATIF prices Highlights from the last week Despite the bullish trend that canola has had since the beginning of the month, for the last seven days to March 27, the leading MATIF futures lost €10.5 mainly because of the losses of the last two days estimated at €15.5 dictated by weakness in oil, canola and vegetable oils. On the other hand, the upward movement since March 1st has been exceptional, seeing a ...
Source: Agroportal
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