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May 2020 G&O Market Update
Manage episode 407129326 series 3558065
Innhold levert av RaboResearch Agri Commodities and Rabobank RaboResearch Food. Alt podcastinnhold, inkludert episoder, grafikk og podcastbeskrivelser, lastes opp og leveres direkte av RaboResearch Agri Commodities and Rabobank RaboResearch Food eller deres podcastplattformpartner. Hvis du tror at noen bruker det opphavsrettsbeskyttede verket ditt uten din tillatelse, kan du følge prosessen skissert her https://no.player.fm/legal.
Brent Crude recovered over 30% so far in May, pushing vegetable oil prices higher. Soy and corn remained subdued in the midst of an abundance of US stocks, good weather, and rapidly progressing US plantings. In particular for soybeans, the pace of Brazilian shipments continues to surprise, with the volumes of US soybeans bought by China a little lackluster in the middle of the worsening rhetoric. The rather positive USDA expectations for US 2020/21 soybean exports will require a strong commitment from China, but reading the Twitter feed offers no assurances about this. Good European and Black Sea weather in the forecast is stabilizing the prospects for wheat production, but there is still a long way to go before the situation improves.
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