Falling crude oil and palm oil prices press on rapeseed prices - 4% US soy surfaces remain uncultivated.
After the July 4 independence day, the turnout for the upcoming stock market shall be usually in the United States. The steep climb in the oilseeds conducted last week has can not comply but earlier this week. The courses show significant weaknesses down.
The messages from the stand of the soybean sowing were ever not bearisch tuned. 4% of planned areas (around the area of Belgium) could not be ordered. Only in 8 of 18 States reached a rate of the order of 100%. In Missouri, 27% are retarded unsolicited surfaces because the fields were simply not passable due to excessive moisture. The timing of a promising date is now passed. Default insurance come into force.
The seed stand of already accumulated soybean reached not the values of the previous year with 72% 63% good to excellent. However, drier and warm weather to ensure a rapid growth spurt in the next 5 days. Water is abundant in the ground. Rain fronts will pull through again.
Canola prices in Paris have fallen by just 399 to nearly €385 per t. Corn and wheat prices played a certain pioneer role. Crucial may however the strong fall in the crude oil from 63 to $58 have been per barrel. Significantly declining trends are also at the market leader palm oil.
Further development will depend of the results of the USDA report on the coming Friday, 10 July 2015 .
ZMP Live Expert Opinion
The course orientation generally to be observed in the grain and oilseed sector at a higher level has suffered a fracture in the development initially oilseeds. The fallen crude oil and palm oil prices are crucial. The current assessment of U.S. soybean development last weekend preclude a falling motion however. The USDA report is awaited with on fr, 10.07. 2015, which could provide potentially new points of reference.
You see historical data because you're not logged in or not a ZMP Live+ member. Get your information advantage now!
