According to what T&F Consultoria Agroeconomic reported, soybean oil closed at a high in Europe, China and India. “In the Chinese port of Dallian, soybeans fell to US$ 655.99 against US$ 680.08 the previous day; soybean meal fell to US$ 430.52, like US$ 438.90 from the previous day and soybean oil advanced to US$ 1014.98, like US$ 992.24 from the previous day”, he comments.
“In Rotterdam, the main non-China port for demand for soybeans and by-products, the first month's quoted price for soybeans rose to US$ 425.40/t against US$ 421.20/t the previous day; soybean pellets advanced to US$ 431.00 like US$ 424.00 from the previous day, afloat”, he adds.
Furthermore, vegetable oil prices for the first month ended the day quoted as follows. “Canola oil advanced to US$ 954.70/t against US$ 952.21/t the previous day; linseed oil was quoted at US$ 1080.00/t against US$ 1077.50/t the previous day; soybean oil advanced to US$ 910.82/t against $ 884.79/t the previous day; sunflower oil advanced to US$ 1060.00 like the previous day's US$ 980.00 and palm oil retreated to US$ 740.00 like the previous day's US$ 742.50/t”, he informs.
“In India, the largest importer of vegetable oils in the world, soybean oil rose to US$ 920.00, like US$920.00/t the previous day, in New Delhi, as shown in the graph alongside”, he comments.
Still on the international market, China bought 3 positions from the USA and 4 from Brazil this Monday. “There were 3 positions from the Gulf and 4 from Brazil. While American soybean premiums remained stable (for the 4 reasons explained above), those in Brazil rose 4 cents/bushel. In the Paranaguá Paper market there were deals for March at +64H, April/May at +54k and June at +62N”, he concludes.
Source: agrolink
READ TOO:
{module 441}
{module 442}
