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Soyoil export premiums for short-term loadings have increased in Brazil in the week to Wednesday July 17, and the spread between Brazilian and Argentine soyoil bases widened in the past week amid rising domestic soyoil prices in Brazil.
US soybean oil exports for the 2023/24 marketing year totaled 6,500 tonnes in the week to July 11, down by nearly 33% from the previous week and by 45% from the four-week average, the USDA reported on Thursday July 18.
Fastmarkets commits to publishing on a daily basis the bids, offers, indicative levels or other cash trading indications on any basis and geography that relates to any of the vital markets that have strong ties with Ukraine.
Egyptian state buyer General Authority of Supply Commodities (GASC) issued an international and local tender to buy vegetable oils for September delivery on Wednesday July 17, a market source told Fastmarkets.
Fastmarkets commits to publishing on a daily basis the bids, offers, indicative levels or other cash trading indications on any basis and geography that relates to any of the vital markets that have strong ties with Ukraine.
Weekly soybean imports into the EU totaled 290,284 tonnes in the week ended Sunday July 14, according to initial data from the European Commission released on Tuesday July 16.
The Brazilian Association of Vegetable Oil Industries (Abiove) raised its estimate for the country’s soybean crop output in 2023/24 to 153.2 million tonnes, a 700,000-tonne increase from last month’s 152.5 million tonnes projection, its monthly report showed on Tuesday July 16.
US soybean crush declined sharply in June 2024, down from a record monthly high in May, according to the latest data released by the National Oilseed Processors Association (NOPA) on Monday July 15.
Managed money investors in the US soybean and corn markets accumulated short positions in the week to Tuesday July 9, sending net short positions to record highs, data from the Commodity Futures Trading Commission (CFTC) showed late on Friday July 12.
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.
Fastmarkets commits to publishing on a daily basis the bids, offers, indicative levels or other cash trading indications on any basis and geography that relates to any of the vital markets that have strong ties with Ukraine.
China’s agriculture outlook committee (CAOC) has maintained its estimates and forecasts for production, consumption and imports for soybean, corn and vegoil for both 2023/24 and 2024/25 marketing years, according to its latest monthly Chinese Agricultural Supply and Demand Estimates (CASDE) released on Friday July 12.
India’s edible vegetable oil imports in June rose by 2% from May to 1.53 million tonnes, data from the Solvent Extractors Association of India (SEA) released on Thursday July 11 showed.
Fastmarkets commits to publishing on a daily basis the bids, offers, indicative levels or other cash trading indications on any basis and geography that relates to any of the vital markets that have strong ties with Ukraine.
US soyoil exports for the 2023/24 marketing year hit 9,700 tonnes in the week to July 4, down by 41% from the previous week and by 6% from the four-week average, the USDA reported on Thursday July 11.
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.
Fastmarkets commits to publishing on a daily basis the bids, offers, indicative levels or other cash trading indications on any basis and geography that relates to any of the vital markets that have strong ties with Ukraine.
China’s soybean crush volume in the week ended Friday July 5 reached 1.99 million tonnes, down by 190,000 tonnes week on week but a growth of 20,000 tonnes from a month ago.
Fastmarkets commits to publishing on a daily basis the bids, offers, indicative levels or other cash trading indications on any basis and geography that relates to any of the vital markets that have strong ties with Ukraine.
Investors in the US corn, soybean and wheat markets accumulated shorts, bolstering their net short positions in the week to Tuesday July 2, data from the Commodity Futures Trading Commission (CFTC) showed late on Monday July 8.