Articles By Eduardo Tinti
Soyoil future prices spiked after the USDA reported its monthly World Agricultural Supply and Demand Estimates (WASDE) report on Friday July 12 with a cut to US ending soybean stocks for both crops.
Vegoil future prices in China have been dropping in the past days after a national food security scandal involving Sinograin shocked the nation and hurt consumer sentiment toward the sector, but market participants expect limited impact on soybean crushers going forward.
The USDA is expected to slightly reduce its soybean acreage and production estimates on its monthly World Agricultural Supply and Demand Estimates (WASDE) report that will be published on Friday July 12, a Fastmarkets poll of 11 traders and analysts showed.
Human and animal nutrition giant ADM announced in a press release on Monday July 8 that it has created a fully verified and traceable supply chain in the US to supply Europe with deforestation-free soymeal and soyoil.
Brazilian farmers sold the largest daily volume of soybeans since the start of the 2023/24 marketing year, with sales bolstered by the recent sharp devaluation of the domestic currency, while China snapped up several cargoes on the export market, sources told Fastmarkets on Wednesday June 3.
The USDA attaché in Brazil reduced its estimates for the country’s 2023/24 soybean output due to floods in the South and yield losses in other states, while raising its projections for 2024/25.
Second corn (safrinha) harvest works in the center-south of Brazil remained at a fast pace in the week to June 27, underpinned by dry and hot weather conditions, local consultancy Agrural said on Monday July 1.
Egypt's state buyer GASC canceled the international tender it had launched to buy at least 30,000 tonnes of overseas soyoil while securing 25,000 tonnes of the vegetable oil domestically, sources told Fastmarkets on Monday June 24.
Second corn crop (safrinha) harvest works advanced 13 percentage points in the week and reached 34% of the projected planted area in the center-south of Brazil as of June 20, Agrural said on Monday June 24.
US soybean weekly export sales increased markedly in the week to June 6, landing at 377,100 tonnes, the USDA reported on Thursday June 13.
Futures prices of soy products in the Chicago Mercantile Exchange lacked a clear direction after the USDA released its monthly World Agricultural Supply and Demand Estimates (WASDE) report on Wednesday June 12.
The USDA is expected to raise its projections for US 2024/25 soybean ending stocks in its World Agricultural Supply and Demand Estimates (WASDE) report, due to be released on Wednesday June 12, according to a June 3-7 Fastmarkets poll with 11 traders and analysts.
Harvesting of the second corn crop (safrinha) reached 10.4% completion in the center-south of Brazil on Thursday June 6, the highest level on record, according to local consultancy Agrural.
The pace of soybean exports from Brazil lost momentum in May month on month and year on year, while soymeal shipments remained robust, according to official customs data.
Brazilian soybean and soy product markets stalled on Wednesday June 5, with market participants reassessing margins after the government changed key tax credit rules.
US net export sales of soybean oil and meal landed within market expectations in the week to May 30, with fresh net commitments of 250,200 tonnes of soymeal and 6,000 tonnes of soyoil reported by the USDA on Thursday June 6.
Dry bulk freight rates for Panamax vessels edged slightly lower in the week to Wednesday June 5, reaching two-month lows due to lukewarm demand for grains and oilseeds in South America and falling crude oil prices.
Soyoil premiums in Argentina reached their highest point since July 2022 on Monday June 3 after consistently increasing over the past weeks on a combination of slow farmer sales, lack of natural gas to operate crushing facilities, and the need to fill vessels previously contracted for export, according to Fastmarkets’ assessments and intel from on-the-ground sources.
US weekly soyoil net export sales were slightly above market expectations at 10,200 tonnes, while fresh commitments for soymeal exports came in within expectations at 265,500 tonnes during the week to May 23...
Soybean crush volumes in Brazil’s largest agricultural-producing state, Mato Grosso, reached another monthly record in April at 1.13 million tonnes...