NEWS

Oilseed market prices all over the world have dropped significantly.BTMA

Oilseeds, as an important raw material for oil pressing ,their prices  have also fluctuated greatly in the last week.

The global epidemic is severe, the oilseed market is not optimistic

As of the week ending March 26, 2021, most of the global oilseed market prices have fallen, and the soybean oil market has fallen from historical highs. The rapid increase in the number of people infected with the new crown virus in Europe, Brazil, and India is worrying about economic recovery and the prospects for commodity demand. The blockage of the Suez Canal has interrupted commodity transportation, the dollar is strong, and the pace of US soybean export sales has slowed. US farmers may significantly increase soybean planting scale this spring.

And the epidemic in some parts of the world has worsened, and the Suez Canal has been blocked and suspended.

U.S. soybean oilseed imports are expected to increase

U.S. agricultural economists predict that U.S. soybean oilseed stocks will fall to historical lows on March 1. The soybean stock-to-use ratio is about 2.6%, slightly lower than the record low set in 2013~2014. In the quarter from December to the end of February, which is also the second quarter of 2020~2021, demand for soybeans in the United States was strong. U.S. soybean consumption in the current season will reach 1.4 billion cats, 316 million cats higher than the five-year average because both export and domestic demand are strong. If soybean stocks do fall to historical lows, the shortage of soybean supplies in the United States this year may lead to increased soybean imports.

——FROM  Business club 

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