Oilseeds: Preistal finally crossed? - Rape and soya in the upwind! Similar to the price increase with a focus on wheat, the prices for rape and soya have also moved upwards. Canola is listed on the Winnipeg stock exchange just under the line of converted 390 € / t, rape in Paris is oriented at the 370 € / t mark.Soy-red in Chicago again exceeds the brand of 300 € / t is targeting a level of 310 € / t. In Hamburg , too, the 44-piece product rose to € 287 / t despite a relatively stable Euro price . At the beginning of July, palm oil moves above the average line of the previous month. Production in the main cultivation areas Indonesia and Malaysia falls short of expectations. The disappointing prospects for the canola rape harvest are triggered by price rises . The originally estimated 9.24 million hectares of cultivated land were not actually reached.The currently dry Weather situation in large parts of the Canadian cultivation area promises only low yields. The harvest expectations have fallen significantly. The EU rapeseed crop is classified lower in some cultivation regions than the EU Commission has predicted in its last report. The recent holdings of the US-Sojabstests were withdrawn under the influence of some dry areas. In addition to the lower than expected expansion of the US soybean area, lower yield expectations could jeopardize the predicted harvest of 115.5 million tonnes.This is currently confronted with a congestion in the discharge of Chinese soybeans , which may lead to a temporary reduction in further soybean imports To China. The above-average high Chinese May purchases are waiting for settlement. This could lead to price pressure again.Last but not least, the crude oil price remains a temporary one Rise below the $ 50 per barrel mark and cover with it Possible price increases For oilseeds. In the background, the crisis is developing around the diesel vehiclesIncreasing concerns about the amount of future biodiesel consumption and thus the raw material requirement, even if at present few concrete details can be mentioned. The recovery of oilseed crops is to be understood as a clear settling down of the previous low prices. The altitude flights remain for the time being within a manageable framework.
ZMP Live Expert Opinion
Expectations for a sustained increase in the supply situation in the oilseed sector have caused cracks. Mounting areas and yield expectations had to be corrected downwards. The prospects for further development remain strained by the weather. There is therefore no room for further reductions. However, the current recovery in quotations is likely to be in the foreseeable future.
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