Author Archives for Mark

Oilseeds surge higher on lower production, strong demand and tight spot pipelines

Strong export demand/lack of farm selling supportive

Profit taking on weekend harvest progress

Strong export data supportive

Rape Oil Closing prices (€/MT) NDJ 654 FMA 652 MJJ 652 ASO 652 November soybeans soared to $9.93.5/BU supported by higher than expected US export sales at 2.17MMT, well above the 340KMT needed this week to stay on pace with USDA’s demand forecast. This evidence of robust foreign demand during a period of low prices was led by China who accounted for more than two-thirds of the buying. The USDA also reported that private exporters had booked sales of 118K MT of soybeans for delivery to China duri...

Soybeans retreat as weather concerns ease

Rape Oil Closing prices (€/MT) NDJ 652 FMA 649 MJJ 649 ASO 649 Soybeans traded up almost the whole session and fell 0.2% to negative levels closing at $9.62 ¾/BU following soymeal’s late retreat and managed to touch the 50-day moving average for the first time in nearly four months. US farmers returned to their fields and concerns were apparently eased over dryness in Brazil. USDA reported export sales for US soybeans of 419KMT from China and an unknown destination taking a further 113KMT Chines...

Eyes remain focused on weather

Rape Oil Closing prices (€/MT) DJ 640 FMA 640 MJJ 640 ASO 640 The big three CBOT players rallied this session with the highest gains for the November beans which closed +2.1% at $9.64.2/BU (+20C/BU) supported by a slower-than-expected pace of US harvest, 13% behind the 66% five-year average. Although US weather forecasts show improving conditions for the coming week; traders seem to be more concerned about the unusually large crop that remains in the field. These concerns should be short lived a...

Oilseeds crop outlook weighs on prices

Rape Oil Closing prices (€/MT) NDJ 642 FMA 640 MJJ 640 ASO 640 November soybeans fell to their lowest in almost a week and closed at $9.44 ¼ (-7.4) a bushel today, below the contract’s 10-day moving average for the first time in six sessions. US weather outlook remains dry for the coming days will allow fieldwork to continue with harvest across the Midwest in full flow, pressuring prices. Traders were expecting the harvest to be over 55% but USDA Crop Progress data showed harvest at 53% complete...

Improved US weather aids harvest pressure

Rape Oil Closing prices (€/MT) NDJ 648 FMA 646 MJJ 646 ASO 646 Rapeseed came off to close €322 (-0.75) with low volume across the curve with most liquidity on the November contract. Rapeseed oil prices held quite stable with limited activity. The rape complex was somewhat a follower of CBOT soya beans which came off amid better weather prospects helping harvest progress coming into this weekend.

Small gains on CBOT despite weaker crude/stronger USD

Weaker US Brent pulls most oilseeds down

Rape Oil Closing prices (€/MT) NDJ 650 FMA 650 MJJ 650 ASO 650 Nov soybeans closed at 952.4 (-12.2C/BU) were slightly weaker today after the previous 2 days which came from US weather market and more talk of harvest delays. US retail sales came in much weaker than expected. Retail sales in September declined 0.3% after jumping 0.6% in August.