Oil seed market: the prices are oriented upwards. The International Grain Council estimates the global soy harvest in 2020/21 to be 372.5 million t (previous year 338 million t), somewhat lower than in the previous month. The main cause is the reduced expectations in the USA with only 116.5 million t . Global consumption is classified at 369.5 million t ; this means that the stock can be easily built up again. The market and price determinants for the next few months will be trade between the USA and China. China's imports are estimated at a rising 99 million t : US exports rise to approx. 58 million t (previous year 46 million t). For the first half of 2021 , Brazil will again assume market and price leadership with an expected harvest record of 133 million tons.However, there is a risk from the “La Nina” weather phenomenon with drought for the new South American soy harvest in 2021. The stock exchange prices for soy have risen sharply. In Chicago, however, there was recently a dollar exchange rate-related setback. It remains to be seen whether this development will last. Hamburg's stock exchange listings are being driven up by the relative weakness of the euro. However, the further price developments show only moderate increases. Due to the coronavirus, palm oil production in Malaysia and Indonesia suffers from limited seasonal workers. Exports are only increasing a little. The palm oil prices are correspondingly high , but are currently being weakened by the fallen crude oil prices. Both are decisive for all oil-based oil seeds such as rapeseed. In view of the weak harvests in the EU, Canada and the Ukraine, the rapeseed market remains significantly more scarce than in previous years.The forward rates for the coming months up to the first half of 2021 show, as before, already low rates of increase. The tendency is more towards a price level ; There are currently no signs of price reductions, but rather of a possible price increase potential.
