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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 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.
China imported 250,000 tonnes of corn in October, down from 310,000 tonnes in September, figures from the country’s General Administration of Customs (GACC) showed on Monday November 18.
US soybean crush volumes surged to an all-time high of 199.96 million bushels in October, according to data released by the National Oilseed Processors Association (NOPA) on Friday November 15.
US soybean meal sales and exports for the 2024/25 marketing year were down week on week in the week to November 7, according to figures released on Friday November 15 by the USDA.
Brazilian food agency Conab has increased its estimate for the country's soybean crop in 2024/25 to 166.14 million tonnes and corn output was raised to 119.8 million tonnes, following favorable weather for crop sowing and development, while increasing soybean 2024 export estimates to 98 million tonnes, its monthly report showed on Thursday November 14.
India’s palm oil imports rose to a three-month high in October at 845,681 tonnes – up a whopping 60% compared with September levels, according to figures from industry group Solvent Extractors Association of India (SEA) on Tuesday November 13.
Brazilian corn exports amounted to 1.7 million tonnes in the first two weeks of November, while soybean shipments totaled 1 million tonnes in the same period, customs data showed on Monday November 11.
Fastmarkets invited feedback from the industry on the pricing methodology for several vegoils and meals prices via an open consultation process between October 3 and October 31, 2024. This consultation was done as part of our published annual methodology review process.
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.
Fastmarkets’ weekly recap of the main movements in global cash markets.
Soymeal futures spiked along with soybeans after the USDA released the November edition of its World Agricultural Supply and Demand Estimates (WASDE) report on Friday November 8, cutting back US soybean production figures.
Analysts at the Chinese agriculture outlook committee (CAOC) have kept their estimates for corn, soybeans and vegoils supply and demand in the 2024/2025 crop year unchanged from their October report in the latest China Agricultural Supply and Demand Estimates (CASDE) released on Friday November 8.
Indian imports of edible oil are expected to fall despite higher consumption of the product due to higher domestic production, the president of the Solvent Extractors Association of India (SEA) said at
the annual Indonesia Palm Oil conference on Friday November 6.
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.
US soybean meal sales for the 2024/25 marketing year continued to climb sharply during the week to October 31, data from the US Department of Agriculture (USDA) showed on Thursday November 7.
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.
October sunflower processing in Ukraine increased month on month and year on year, despite a poor sunflower harvest, high costs for the product and complaints from processors of a lack of raw materials and minimal processing margins, sources told Fastmarkets on Tuesday November 5.
Speculators in the US corn market cut short positions, helping send the net short to the highest level since August 2023, while adding shorts in soybean and wheat contracts in the week to Tuesday October 29, data from the Commodity Futures Trading Commission (CFTC) showed late on Friday November 1.