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Spring planting in North America has been underway for several weeks, but low temperature and rainy weather has been restricting planting progress, prompting the oilseed market to establish a risk premium, and Brazil 's soybean production cut boosts.
soybean export dema.
However, Indonesia's lifting of the palm oil export ban triggered a retreat in the edible oil market, which also put pressure on oilseed pric.
July 2022 soybean futures on the Chicago Board of Trade (CBOT) settled at around $10525 a bush on Friday, up 575 cents, or 6%, from a week a.
.
Gulf .
1 spot soybeans were quoted at $12725 a bushel ($674 a tonne), up 3375 cents, or 86%, from a week a.
On the Euronext exchange, August rapeseed futures settled at around 830 euros/ton, down 45 euros, or 7%, from a week a.
The July rapeseed on the Intercontinental Exchange (ICE) closed at 11730 Canadian dollars per ton, down 7 Canadian dollars or 7% from a week ago; the FOB spot price of Argentine Upper River soybeans was US$663 (including 33% export tax), which was lower than a week a.
Up $18 or 7
July 2022 soybean futures on the Dalian Commodity Exchange closed at around 6,293 yuan/ton, up 16 yuan or 3% from a week a.
.
Gulf .
1 spot soybeans were quoted at $12725 a bushel ($674 a tonne), up 3375 cents, or 86%, from a week a.
On the Euronext exchange, August rapeseed futures settled at around 830 euros/ton, down 45 euros, or 7%, from a week a.
The July rapeseed on the Intercontinental Exchange (ICE) closed at 11730 Canadian dollars per ton, down 7 Canadian dollars or 7% from a week ago; the FOB spot price of Argentine Upper River soybeans was US$663 (including 33% export tax), which was lower than a week a.
Up $18 or 7
July 2022 soybean futures on the Dalian Commodity Exchange closed at around 6,293 yuan/ton, up 16 yuan or 3% from a week a.
.
recession fears spark bearish stocks, dollar rally stalls
recession fears spark bearish stocks, dollar rally stalls
In the past week, global financial markets were led lower by Wall Street stocks, with.
stock indexes falling for seven consecutive weeks, the longest losing streak since 200 The economic consequences of the Fed's aggressive interest rate hikes to curb inflation have unnerved investors, opting to exit riskier asse.
The dollar also retreated from a 20-year high, down around 3% from a week ago, its biggest weekly drop since Februa.
The.
dollar has risen sharply by around 10 percent in recent months as fears of soaring inflation, aggressive interest rate hikes by the Federal Reserve, and ongoing conflict between Russia and Ukraine have prompted investors to flee to safe.
But fears that a months-long rally in the greenback may have been overdone prompted investors to turn to the safety of the Japanese yen and Swiss franc, bringing the dollar's gains to a screeching ha.
Capital Economics pointed out that after the recent rally, the dollar should take a bre.
A weaker.
dollar was supportive of.
dollar-priced commoditi.
stock indexes falling for seven consecutive weeks, the longest losing streak since 200 The economic consequences of the Fed's aggressive interest rate hikes to curb inflation have unnerved investors, opting to exit riskier asse.
The dollar also retreated from a 20-year high, down around 3% from a week ago, its biggest weekly drop since Februa.
The.
dollar has risen sharply by around 10 percent in recent months as fears of soaring inflation, aggressive interest rate hikes by the Federal Reserve, and ongoing conflict between Russia and Ukraine have prompted investors to flee to safe.
But fears that a months-long rally in the greenback may have been overdone prompted investors to turn to the safety of the Japanese yen and Swiss franc, bringing the dollar's gains to a screeching ha.
Capital Economics pointed out that after the recent rally, the dollar should take a bre.
A weaker.
dollar was supportive of.
dollar-priced commoditi.
Yields on the.
benchmark 10-year Treasury note fell for a third straight session on Friday, hitting a fresh three-week low, as investors grew increasingly concerned about signs of a.
economic slowdo.
Analysts said the growing odds of a.
recession could mean the Federal Reserve could scale back interest rate hik.
Quotes in the interest rate market on Friday showed the.
federal funds rate at 783% at the end of 2023, down from 9% two weeks ago and currently at 8
The.
will release the minutes of the last Federal Open Market Committee meeting next Wednesd.
A BMO Capital research report said the risk in the minutes is skewed toward hawks, as hawkish committee members are likely to advocate for a 75 basis point or even 100 basis point hike at the meeti.
benchmark 10-year Treasury note fell for a third straight session on Friday, hitting a fresh three-week low, as investors grew increasingly concerned about signs of a.
economic slowdo.
Analysts said the growing odds of a.
recession could mean the Federal Reserve could scale back interest rate hik.
Quotes in the interest rate market on Friday showed the.
federal funds rate at 783% at the end of 2023, down from 9% two weeks ago and currently at 8
The.
will release the minutes of the last Federal Open Market Committee meeting next Wednesd.
A BMO Capital research report said the risk in the minutes is skewed toward hawks, as hawkish committee members are likely to advocate for a 75 basis point or even 100 basis point hike at the meeti.
Looking at other markets, top commodity importer China cut its five-year loan prime rate by 15 basis points to 45% on Friday, and China's securities regulator announced measures to support industries affected by the outbreak through capital marke.
Help ease market concerns about the epidemic and economic slowdo.
The improving economic outlook in China also boosted currencies and commodities in major commodity exporters such as Braz.
In Latin America, Colombia's former guerrilla and leftist leader also led by a wide margin ahead of the May 29 vote, following the leftist leader's victories in Peru and Chi.
In Russia, the ruble hit a seven-year high against the euro despite Western sanctio.
Help ease market concerns about the epidemic and economic slowdo.
The improving economic outlook in China also boosted currencies and commodities in major commodity exporters such as Braz.
In Latin America, Colombia's former guerrilla and leftist leader also led by a wide margin ahead of the May 29 vote, following the leftist leader's victories in Peru and Chi.
In Russia, the ruble hit a seven-year high against the euro despite Western sanctio.
.
soybean planting is behind schedule, and the weather for the next 15 days is not ideal
soybean planting is behind schedule, and the weather for the next 15 days is not ideal
The.
Department of Agriculture’s weekly crop progress report showed that as of May 15, the.
soybean planting progress was 30%, although it was 18 percentage points higher than a week earlier, but still far behind the 58% in the same period last year and the five-year average of 3
Department of Agriculture’s weekly crop progress report showed that as of May 15, the.
soybean planting progress was 30%, although it was 18 percentage points higher than a week earlier, but still far behind the 58% in the same period last year and the five-year average of 3
Rainy weather is likely to return to the.
corn belt over the next 15 days, Maxar Weather said, meaning corn and soybean plantings will slow again after recent advanc.
Unfavorable conditions are expected in the Western Corn Belt between June and August, with above-normal temperatures and below-normal rainfa.
The weather in the eastern regions is closer to norm.
Growing conditions for.
crops have not been ideal this ye.
corn belt over the next 15 days, Maxar Weather said, meaning corn and soybean plantings will slow again after recent advanc.
Unfavorable conditions are expected in the Western Corn Belt between June and August, with above-normal temperatures and below-normal rainfa.
The weather in the eastern regions is closer to norm.
Growing conditions for.
crops have not been ideal this ye.
.
soybean export sales accelerate
soybean export sales accelerate
The.
Department of Agriculture’s weekly export sales data showed that net sales of soybeans in the United States for 2021/22 were 750,000 tons in the week ended May 12, significantly higher than last week and 65% higher than the four-week average, with China Sales of 390,000 to.
Net sales in 2022/23 were 150,000 tonnes, double the amount sold a week earli.
So far in 2021/22,.
soybean export sales totaled 521 million tons, a decrease of 7% year-on-year, while soybean sales to China totaled 344 million tons during the same period, a decrease of 17% year-on-ye.
It is worth mentioning that China has increased its order for new US bea.
As of May 12, China has bought 3 million tons of new.
soybeans, a 139% surge year-on-ye.
This is mainly due to lower soybean production in Brazil in 2021/22 and high soybean prices, making.
soybeans for delivery this fall cheaper than Brazil.
As of May 18, the spot price of soybeans in the US Gulf region was about US$662/ton, which was comparable to the price at the port of Paranagua in Brazil, but the US soybean price for delivery in August was about US$645/t.
In its May supply and demand report, the.
Department of Agriculture projected China's soybean imports to rise to 99 million tonnes in 2022/23, up from 92 million tonnes in 2021/2
Department of Agriculture’s weekly export sales data showed that net sales of soybeans in the United States for 2021/22 were 750,000 tons in the week ended May 12, significantly higher than last week and 65% higher than the four-week average, with China Sales of 390,000 to.
Net sales in 2022/23 were 150,000 tonnes, double the amount sold a week earli.
So far in 2021/22,.
soybean export sales totaled 521 million tons, a decrease of 7% year-on-year, while soybean sales to China totaled 344 million tons during the same period, a decrease of 17% year-on-ye.
It is worth mentioning that China has increased its order for new US bea.
As of May 12, China has bought 3 million tons of new.
soybeans, a 139% surge year-on-ye.
This is mainly due to lower soybean production in Brazil in 2021/22 and high soybean prices, making.
soybeans for delivery this fall cheaper than Brazil.
As of May 18, the spot price of soybeans in the US Gulf region was about US$662/ton, which was comparable to the price at the port of Paranagua in Brazil, but the US soybean price for delivery in August was about US$645/t.
In its May supply and demand report, the.
Department of Agriculture projected China's soybean imports to rise to 99 million tonnes in 2022/23, up from 92 million tonnes in 2021/2
.
soybean crush hits record high in April
soybean crush hits record high in April
According to the National Oilseed Processing Industry Association (NOPA), the soybean crush of member companies in April 2022 will be 16788 million bushels, a decrease of 6% month-on-month but a year-on-year increase of
This is the second highest crush on record for the same period in April 202 Despite lucrative crushing, soybean crushing slowed in April due to seasonal maintenance at some mil.
Before the report, analysts on average expected soybean crush at NOPA member companies to reach 1737 million bushels in April 202 The USDA's May Supply and Demand Report forecast.
soybean crush at 215 billion bushels in 2021/22, up 5% from the 2020/21 crush of 141 billion bushe.
The 2022/23 soybean crush will increase to 255 billion bushe.
This is the second highest crush on record for the same period in April 202 Despite lucrative crushing, soybean crushing slowed in April due to seasonal maintenance at some mil.
Before the report, analysts on average expected soybean crush at NOPA member companies to reach 1737 million bushels in April 202 The USDA's May Supply and Demand Report forecast.
soybean crush at 215 billion bushels in 2021/22, up 5% from the 2020/21 crush of 141 billion bushe.
The 2022/23 soybean crush will increase to 255 billion bushe.
China restores canola market access for two Canadian companies
It was reported this week that China has lifted import restrictions on Canadian canola that it imposed three years ago, restoring market access for two Canadian compani.
Chinese customs have suspended canola exports to China from two Canadian companies since March 2019 after pests were detected in canola cargo.
However, due to bad weather in Canada in 2021, rapeseed production has dropped to a 13-year low, and domestic demand in Gaza is strong, so the current tight rapeseed inventory means that Canada will not export a large amount of rapeseed to China this year, but it may increase purchases9 New season rapeseed for shipping in the next mon.
USDA expects China's canola imports to reach 5 million tons in 2022/23, up from 8 million in 2021/22, but down from 8 million in 2020/2
Chinese customs have suspended canola exports to China from two Canadian companies since March 2019 after pests were detected in canola cargo.
However, due to bad weather in Canada in 2021, rapeseed production has dropped to a 13-year low, and domestic demand in Gaza is strong, so the current tight rapeseed inventory means that Canada will not export a large amount of rapeseed to China this year, but it may increase purchases9 New season rapeseed for shipping in the next mon.
USDA expects China's canola imports to reach 5 million tons in 2022/23, up from 8 million in 2021/22, but down from 8 million in 2020/2
The changing landscape of palm oil
Indonesian President Joko Widodo said on May 19 that Indonesia will lift a three-week ban on palm oil exports from May 23 as domestic supplies of the edible oil impro.
The move was welcomed by oil palm farme.
Hundreds of small-scale oil palm farmers in Indonesia held an opportunity in Jakarta and other places on Tuesday to demand that the export ban be lifted as prices for fresh fruit bunches fell sharply, threatening their livelihoo.
Industry analysts expect palm oil prices to have peaked as Indonesia lifts its export ban and supplies on the market are expected to increase significant.
Analyst Dorab Mistry recently said that when the Russia-Ukraine conflict is resolved, Indonesia lifts its export ban, and Malaysia's palm oil production increases, CPO prices are likely to fall to RM5,000 in June and RM4,000 in the second half of the ye.
Ringgit/t.
The move was welcomed by oil palm farme.
Hundreds of small-scale oil palm farmers in Indonesia held an opportunity in Jakarta and other places on Tuesday to demand that the export ban be lifted as prices for fresh fruit bunches fell sharply, threatening their livelihoo.
Industry analysts expect palm oil prices to have peaked as Indonesia lifts its export ban and supplies on the market are expected to increase significant.
Analyst Dorab Mistry recently said that when the Russia-Ukraine conflict is resolved, Indonesia lifts its export ban, and Malaysia's palm oil production increases, CPO prices are likely to fall to RM5,000 in June and RM4,000 in the second half of the ye.
Ringgit/t.
