The global oilseed markets were mixed in the middle of the week. While soybeans on the US stock exchange showed mixed trends, rapeseed contracts on Euronext in Paris recorded slight price losses.
On the Chicago Board of Trade (CBOT), soybean futures closed mixed on Wednesday: forward futures fell by 2 to 5 US cents, while new crop futures rose by 2 to 4 US cents. The cash price fell 1.75 cents to USD 9.87 per bushel, according to cmdtyView. Soybean meal futures rose by USD 1.90 to USD 2.80 per tonne, while soybean oil futures again fell significantly by 64 to 103 points. Ahead of the meeting scheduled for Saturday in Geneva between US Treasury Secretary Bessent, USTR head Greer and China's Vice Premier He Lifeng, attention is turning to possible easing of export controls and tariffs. Analysts expect US soybean export bookings of 200,000 to 500,000 tons for the week ending May 1. Sales of the new crop could be between 0 and 150,000 tons. Exports of 200,000 to 400,000 tons are expected for soybean meal, and for soybean oil between a decline of 5,000 tons and sales of up to 20,000 tons. The focus is also on the upcoming WASDE report, which will be published on Monday. Analysts forecast an average US soybean yield of 52.5 bushels per acre and a total production of 4.338 billion bushels. Brazil, meanwhile, exported 15.271 million metric tons of soybeans in April, up 4.03% from March and 3.97% from a year ago, according to the Commerce Department. For May, ANEC estimates exports at 12.6 million tons.
Rapeseed futures on Euronext in Paris recorded slight losses on Wednesday. In the current trading week up to May 8, 2025, rapeseed futures in Paris have so far shown a slight downward trend. The May 2025 contract closed at EUR 499.50 per tonne, a decline of 2.2 % and the lowest level since November 28. The price trend is being influenced by the strength of the euro against the US dollar and losses in crude oil. Weak international demand and uncertainty regarding US tariffs on Canadian canola products are also weighing on the markets. However, demand for rapeseed oil in Europe remains stable overall, particularly from the biodiesel industry. According to Strategie Grains, the EU rapeseed harvest in 2025 is estimated at 19.0 million tons, which corresponds to an increase of 13% compared to the previous year.
ZMP Live Expert Opinion
Both soybean prices and rapeseed contracts remain volatile and are currently mixed. On the bullish side, the continuing demand for soybeans as a raw material for animal feed and the potential impact of weather events in the main growing regions such as the US and Brazil are supporting the market. In addition, the possible easing of export controls and tariffs as part of the talks between the US and China could provide an additional boost. At the same time, there are also bearish factors that have the potential to weigh on soybean prices. The good global soybean yields to date could be a burden. Added to this are the possible effects of a stronger US dollar, which could make exports more expensive, as well as the already well-filled inventories, which could push down the price potential.
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