Rapeseed prices wobble - palm oil prices are unstable at elevated levels - US soy yields The oilseed market continues to move at a slightly higher level with a steady ups and downs. Driving forces are the two market leaders soy and palm oil. The soybean prices are suffering from the Chinese import tariffs, which are being negotiated, but with uncertain outcome. China is demonstratively buying in South America. In Brazil , both old and new crops are contracted. The opportunity is favorable because the Brazilian currency is weak. Price pressures also come from the expectations of a high Brazilian crop in the spring of 2020. Although Chinese soybean stocks are scarce, soybean meal consumption is significantly reduced by low levels of pig stock resulting from African swine fever. The palm oil prices increased in mid-Oct.19 from 470 € / t to an average current 570 € / t.The background is a weaker than expected harvest in the main growing areas as well as the future increase in the blending proportion of biodiesel. Inventories were reduced during the main harvest from more than 3 to 2.3 million tonnes. Price uncertainties, on the other hand, are caused by the Indian import stop and the fluctuating crude oil prices . The rape courses can not prevail despite goods shortage against the overpowering soy and palm oil quantities . The competition among vegetable oils is forcing rapeseed prices to adjust within a narrow range, but still holding above the benchmark of € 380 / t on the Paris Stock Exchange. Support comes in part from catching crude oil prices.
