Ölsaaten Cockpit, 22.06.2017

Falling crude oil and palm oil prices put oilseed rape and soya under pressure - high soybean offer Despite the OPEC's decision to limit oil production by the beginning of 2018 crude oil prices drop below $ 46 per barrel . This brings the competition products with the focus on vegetable oils into difficulties. The rapes in Paris and Winnipeg are going back after a short recovery phase.   In addition to the negative impact of the crude oil price, palm oil is also pressurized by a reduced export . The Juniaausfuhren should be approx. 15% worse than in the previous month. At the same time, after the end of the fasting month of Ramadan, production will continue to reach the seasonal peak in Oct.Accordingly, inventory levels have risen significantly. The palm oil prices, which are added to a rise, fall back to their origin.   In the background the Damocles sword of US import duties on biodiesel and palm oil from the countries of origin, Indonesia and Malaysia. This could put the courses under further pressure.   Soybean sowing in the USA is almost complete. The stocks are rated above average. The weather forecasts for the next days and weeks are promising with some regional exceptions. An extensive cultivation area combined with a good average yield could lead to a repeat of a large US crop . However, until September 2017, a number of weather risks are still to be overcome.The prices for all Sojaprodukte have declined significantly.   Sojaschrotnotierungen in Hamburg are at the lowest level in years with just over 280 € / t . The favorable purchase price is also due to the euro price of $ 1.115 per €   favored.   The further course of the oilseed courses is mainly determined by the development of crude oil prices, US import policy on biofuels and the further growth of US soybeans.The development of the euro is playing a decisive role for the EU.