Ölsaaten Cockpit, 10.03.2017

USDA estimates oilseed crop 2016/17 higher than in the previous month – soy prices give to In the latest monthly edition of his assessments on the supply situation on the global oilseed market is the U.S. Department of agriculture to higher numbers than in the previous month. The total oilseed production 2016/17 is 4 million tonnes up to 558 million tonnes estimated. The main contribution comes from the soy sector with 340 million tonnes, which is placed at approximately 4 million tons higher. Only minor changes have occurred at the other oilseeds. Rape is considered now to 68 million tons, sunflower to 45 million tonnes of peanuts to 42 million tonnes. The current crops of South American soybeans are currently developing the strongest influence on the market and price developments. For Brazil , the USDA estimates a higher by 4 million tons harvest now totalling t 108 million. The favorable weather contributing to this record during the vegetation and harvest time. Last year, the harvest was 96 million tons. In Argentina floods have affected the soya harvest. The USDA is still 55 million tonnes. Last year, the harvest was still about 57 million tonnes also under difficult conditions. The delivery of South American beans is however hampered by several factors. With help, military action resolves the issue of not drivable roads in the northern region of Brazil. In Argentina- and prevent a liquid transport dock strikes. Still Brazilian farmers feel free with advance of soybeans due to the strong price of the Brazilian currency. These driving up domestic prices down. However, selling pressure comes up slowly in the market when the main crop now increasingly on the market comes. On the demand side, China is pushing for the time being even more to the fore with an import volume of 87 million tonnes or 4 million tonnes more than in the previous year. In particular the import increases earlier this year beat strongly to beech. Whether and to what extent grow the import increase to the same extent, is heavily disoriented by the trade policy of the new Government. Additional risks cause the discussions to the biofuels policy in the United States. The palm oil production has the USDA slightly lower applied than in the previous month. It remains at the low assessment of the results in the main production areas Indonesia and Malaysia. The courses on the stock exchanges have passed after under impression of the high expectations of the soy crop. The weak euro exchange rate in mind is to keep local import goods which again captures the dollar-quoted price declines.