Global oilseed market: rains in producing areas, oilseed prices fall

 

On Friday, the Chicago Board of Trade (CBOT) November soybean futures fell 69.
75 cents from a week ago to close at 1,329.
25 cents per bushel
.
The average spot price of Meiwan No.
1 yellow soybeans was 14.
5075 US dollars per cat (533.
1 US dollars per ton), down 63 cents or 4.
16% from a week ago
.
The Euronext exchange's November 2021 rapeseed futures closed at approximately 523.
25 Euros/ton, down 11.
75 Euros or 2.
20% from a week ago
.
The intercontinental exchange (ICE) November rapeseed futures rose by about 13.
1 Canadian dollars from a week ago to close at 844 Canadian dollars/ton; the Argentine soybean spot market was closed on Friday to celebrate the national holiday of Independence Day
.
The Dalian Commodity Exchange reported that soybeans closed at 5,917 yuan/ton in September, an increase of 190 yuan from a week ago
.

 

　　On Friday, the US dollar index closed at 92.
10 points, down 0.
2% from a week ago
.

 

　　The US Department of Agriculture's weekly crop progress report showed that as of July 4, the blooming rate of soybeans in the United States was 29%, 14% last week, 29% last year, and a five-year average of 24%
.
The soybean pod setting rate was 3%, 2% in the same period last year, and the five-year average value was 3%
.
The excellent and good rate of soybeans was 59%, lower than 60% a week ago and 71% in the same period last year
.
Rainfall in the Midwestern United States this week will boost crop conditions
.

 

　　The US soybean demand situation remains sluggish
.
The US Department of Agriculture's weekly export sales report shows that for the week ending July 1, US soybean net sales for 2020/21 were 63,800 tons, which was 31% lower than last week and 19% lower than the four-week average
.
So far this year, US soybean export sales totaled 61.
9 million tons, an increase of 35.
2% over the same period last year
.

 

　　The OECD and the United Nations Food and Agriculture Organization (FAO) jointly issued a blockbuster report with a total of 337 pages, highlighting the new challenges brought about by the global pandemic in the outlook for 2021-2030, and the need to ensure that the agricultural industry is responding Maintain flexibility, efficiency and sustainability in times of crisis
.
Qu Dongyu, the Director-General of FAO, is also one of the two signatories of this report
.
According to the report, the price of U.
S.
soybeans arriving in Rotterdam in 2022 will fall from 459.
10 US dollars per ton in 2021 to 454.
60 US dollars per ton, and the decline will continue until 2023, as production prospects improve and the new crown epidemic gradually restricts trade.
Canceled
.
However, the nominal price of soybeans is expected to rise slightly thereafter, and the US soybean price will rise to US$494.
20 per ton by 2030
.

 

　　The US Department of Agriculture will release the July supply and demand report next Monday (July 12)
.
Analysts expect this report to show that US soybean ending stocks for 2020/21 will be 136 million cats, higher than the 135 million cats predicted in June
.
The ending stocks of US soybeans in 2021/22 are expected to be 140 million cats, lower than the 155 million cats predicted in June
.
Analysts expect the end of 2020/21 global soybean stocks to be 87.
6 million tons, lower than the 88 million tons predicted in June
.
The global soybean ending stocks in 2021/22 are expected to be 92.
3 million tons, lower than the 92.
6 million tons predicted in June
.
Analysts on average expect Brazil’s soybean production to be 137 million tons, the same as the June forecast
.
Argentina's soybean production is expected to be lowered to 46.
4 million tons, lower than the 47 million tons forecast in June
.