Articles By Leticia Pakulski

Brazil’s National Energy Policy Council (CNPE) approved a resolution on Tuesday December 10, which establishes minimum targets for the use of waste oils and fats, such as tallow and used cooking oil (UCO), in the production of biodiesel, sustainable aviation fuel (SAF) and green diesel.

The EU and Mercosur — the trade bloc that includes Argentina, Brazil, Paraguay and Uruguay — announced on Friday December 6 the end of negotiations for the free-trade agreement between the blocs, but questions linger about the potential impacts on trade flows of agricultural products.

Net sales of US soyoil fell to 19,500 tonnes in the week ended November 28, down by 84% week on week, but shipments surged after recent strong US sales, the USDA reported on Friday November 29.

Brazil is expected to set new records in the 2024/25 crop year, with soybean output projected at 172.2 million tonnes, exports at 103.4 million tonnes and crushing at 56 million tonnes, data from local consultancy Agroconsult showed on Thursday November 28.

Brazilian corn production is expected to reach 132.7 million tonnes in 2024/25, up by 3.5% from the previous year's crop of 128.2 million tonnes, with the second corn crop (safrinha) sowed area projected at 17.8 million hectares, an all-time high, data from local consultancy Agroconsult showed on Thursday November 28.

US soyoil net sales rose to 124,800 tonnes in the week to November 21, the highest weekly figure since March 2019 and the sixth highest in the USDA historical data that goes back to 1990, the USDA reported on Friday November 29.

US soyoil net sales rose to 21,900 tonnes in the week to November 14, with export premiums for US soyoil falling below their counterparts in Argentina and attracting external demand, especially for nearby destinations.

Brazilian corn exports amounted to 2.8 million tonnes in the first three weeks of November, while soybean shipments totaled 1.5 million tonnes in the same period, customs data showed on Monday November 18.

Brazil’s soymeal exports totaled 2.3 million tonnes in October, up by 24.4% year on year, their highest for October and the third highest in the historical series dating back to 1997, official customs data showed.

President-elect Donald Trump’s victory in the US could bring different outcomes across the soybean complex. A potential trade war with China could have several impacts on global commodity markets, especially beans, with Chinese demand potentially shifting to other origins such as South America, sources have told Fastmarkets.

India intensified its buying of soyoil in the week to Friday November 1, with trade sources telling Fastmarkets that 150,000-160,000 tonnes have been bought since Monday because soyoil is the most competitive vegoils option and the supply-demand balance was looking tighter for the world’s largest importer of edible oils.

Brazilian grain exporters association Anec raised its estimates for soybean exports to 4.63 million tonnes in October, the association said in its weekly report on Tuesday October 22.

Soyoil premiums in Argentina have surged since the beginning of the month, to trade at one of the highest levels on record since Fastmarkets started following the market in 2018, with volumes for nearby deliveries pressured by Indian demand and a slow pace of farmer sales, according to sources.

Oilseed crushing in Argentina was expected to increase by 37% in 2024, to 42.4 million tonnes, the Rosario Grain Exchange (BCR) said in its weekly report published on Friday October 18.

President Luiz Inacio Lula da Silva passed the much awaited Fuels of the Future law, approved by Congress in September, in an event marked by the signature of letters of commitment to invest around 21 billion Reais ($3.81 billion) in Brazil.

Brazilian corn exports amounted to 1.09 million tonnes in the first week of October, while soybean shipments reached 731,713 tonnes, according to customs data released on Monday October 7.

The end of the year will be tricky regarding origination for Brazilian crushing industries, and annual stoppages may take longer than usual due to a lack of soybeans, sources said.

Short-term demand for soymeal might soften in the main origins, market sources said after the European Commission proposed delaying the implementation of the EU Deforestation Regulation (EUDR) to December 30, 2025, for large companies and to June 30, 2026, for micro and small enterprises.

Brazil’s soybean sowing in the 2024/25 marketing year has reached 2.4% of the projected area of 47.4 million hectares, the country’s food agency Conab said.

The export prices of soyoil, palm oil and sunoil have risen in their main points of origin monitored by Fastmarkets, more than a week after the increase in tax duty in India, the largest vegetable oil importer in the world.