Oil seed courses in descent - when is safe ground reached? US soybean prices fall below the magic line of 300 € / t. The 44-piece product in Hamburg slides below the € 285 / t mark . The rapeseed prices in Paris are taxing at € 350 / t . Palm oil prices have fallen again below the low level at the beginning of the month of May. Almost everything is currently talking about high oilseed courses . The dominant influence comes from the urgent recruiters in South America, with a focus on Brazil.After the decline in the purchasing power of the Brazilian currency, there is a high willingness to sell. Argentina is not quite as efficient as in previous years due to weather-related harvest effects. The latest 48 hour strikes in the Argentine ports temporarily slow the delivery possibilities. There are also conjectures about cancellations by Chinese buyers . The weaker Chinese currency contributes, among other things, to the fact that the oil mills there are red. As long as China's reluctance to buy will continue as the world's largest importer, it remains open for now. There is still little concrete. It is highly probable that the US soybean area will be additionally increased by the maize sowing that is prevented and prevented by rain.This development promises the repetition of a large US soybean harvest in the autumn of 2017. On the whole, a clearly above-average supply situation in the soybean sector can be assumed for the year 2017. The palm oil market is not so richly supplied, as production in the most important countries such as Malaysia and Indonesia has fallen short of expectations. Nevertheless, production is aiming at the seasonal peak in Oct. -17 . Rising stocks are putting pressure on palm oil prices. Despite a reduced prospect of an improvement in the supply situation in the rape sector , the rapeseed prices remain under the pressure of the low prices of the competing products.The fall in crude oil prices and the high price of the euro are a factor for strengthening low prices for all imported products such as soya, palm oil and oilseed rape.
ZMP Live Expert Opinion
The oilseed courses have slowed considerably with the month to go in May. A supply pressure on soybeans from South America is countered by a subdued import demand from China. During the rest of the year, a large US crop is expected in the autumn of 2017. Crude oil prices are depressed by the prices for palm oil, although the supply is not increasing but noticeably increased. The rap prices are kept in check despite the scarce supply situation by the two market leaders soya and palm oil. A stable euro rate ensures low-priced imports. There is still no fundamental grounding in sight. The weather markets are imminent.
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