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Market sources suggested that the export duty on sunflower oil from Russia may increase by 200% in December compared with November, and by another 50% in January compared with December, amid a steady increase in prices for vegetable oils, which supports sunflower oil prices.
The Brazilian Association of Vegetable Oil Industries (Abiove) projects Brazilian soybean output to reach 167.7 million tonnes in 2024/25, up by 9.4% on the year, while soybean exports were forecast at 104.1 million tonnes — both record levels — in its first estimate for the new crop year, its monthly report showed on Tuesday November 19.
Brazilian soybean sowing reached 73.8% of the projected area of 47.3 million hectares in the week to November 17, a weekly advance of 7.7 percentage points, and surpassed the 65.4% completion rate from a year earlier, the country’s food agency Conab said in its weekly crop progress report late on Monday November 18.
Asian vegoils futures mostly rose on Tuesday November 19 despite somewhat bearish prospects for crude palm oil (CPO) fundamentals, while in Chicago, soyoil futures dropped further.
Soybean futures went down on the Chicago Mercantile Exchange on Tuesday November 19, driven by the progress of planting and weather conditions in Brazil and amid a drop in soyoil, which continued to put downward pressure on prices.
US wheat futures remained supported on Tuesday November 19, following double-digit strength observed on Monday, which was fueled by bearish Black Sea headlines.
US corn futures trended lower on Tuesday November 19, with the US corn harvest now complete, as reported by the USDA late on Monday November 18.
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Chinese state agencies will hold an auction for imported soybeans on Thursday November 21, offering around 90,000 tonnes for sale, according to a note released by the National Grain Trade Center (NGTC) on Tuesday November 19.
The Turkish government could issue additional corn import quotas under preferential tariffs in January after over two thirds of an earlier short-term quota was filled, with the aim of regulating domestic market prices, sources told Fastmarkets.
The EU imported a total of 166,951 tonnes of soybeans in the week ended Sunday November 17, pushing the yearly total to 4.75 million tonnes, a 9% increase compared with the previous year, according to preliminary data from the European Commission.
The German 12.5% FOB wheat APM for January loading was assessed at an €10 per tonne premium over the March Euronext contract...
Agricensus assessed the APM-6 Soybean CFR China price $-/mt on the day...
The EU’s weekly wheat exports amounted to 233,449 tonnes in the week to Sunday November 17, according to initial data from the European Commission released on Tuesday November 19.
Malaysia raised its crude palm oil (CPO) reference price for December to 4,471.39 ringgit ($1,059) per tonne, according to a circular issued by the Malaysian Palm Oil Board (MPOB) on Tuesday November 19.
China will cut the export tax rebate of 13% for chemically modified animal, plant or microbial oils and fats, including used cooking oil (UCO) and aluminium and copper products, in a statement by the country's Ministry of Finance on Friday November 15.
The US corn and soybean harvests are now complete as of the week ended Sunday November 17, according to the USDA’s weekly crop progress report released on Monday November 18.
The German 12.5% FOB wheat APM for January loading was assessed at an €10 per tonne premium over the March Euronext contract...
Agricensus assessed the APM-6 Soybean CFR China price $-/mt on the day...
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.