General Oils and Fats Complex

Soybean oil

The amount of new crop soybeans from South America is still not high enough to cover the world demand. Unusually low quantities are shipped because of logistical problems in Brazil. This is also reflected in the surprisingly high exports from the United States in recent days. The extreme weather conditions in Argentina with the current flooding in the area of Buenos Aires hinder the soybean crop. It also turns out that even in the northern growing areas of crop losses are recorded due to high temperatures in the last months. The last USDA estimate for soybeans fell slightly more positive than previously expected. Therefore, the markets were slightly weaker in recent days. Also it remains to be seen what impact will have the new cases of bird flu. If larger poultry amounts have to be culled in China, this may cause pricing effects on the soy complex..