The prices of rapeseed have gained ground on Euronext between November 8 and 11. The decline ofeuro compared to the dollar The United States provided some support for the prospects ofexports European. Indeed, the euro zone could, like the Chinebe affected by possible protectionist measures of Donald Trump after coming to power. The low European sunflower harvest is also driving rapeseed prices upwards. But it is above all the increase in the cost of vegetable oilsand palm in particular, which supported the prices.
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The Malaysian Inter-Professional Associationoil of palms has in fact published its monthly market report, which highlighted the drop in stocks in Malaysia. These fell by 6% from one month to the next, under the effect of the decline in productionthe progression of exports and the domestic consumption. Note, however, that exports are showing signs of decline in the first days of November. There FAO has also published its price indices for vegetable oilsup 7% month-on-month, mainly due to the increase in palm oil prices.
On the side of militaryprices fell for seeds,oil and the cakesunder pressure from the rise in dollar the United States in the face of competing currencies, and the decline in the price of oil in New York. THE investment fund are oriented towards sales. Note that the USDA has revised downward the yield United States in soybeans, and by concomitance the stocks end of campaign forecasts. Globally, soybean stocks were also revised down compared to the previous month.
On the walk French physics, the prices of sunflower continued to rise, in a context of low European production.
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Fundamentals:
- Palm oil, Malaysia, stocks : 1.86 Mt in October 2024 (source: Malaysian Palm Oil Board);
- Palm oil, Malaysia, domestic consumption : 208,418 t in October 2024 (source: Malaysian Palm Oil Board);
- Soybean, United States, yield : 51.7 bushels per acre (bu/a) compared to 52.8 bu/acre the previous month (source: USDA);
- Soybeans, United States, stocks : 12.8 Mt compared to 15 Mt the previous month (source: USDA);
- Soybeans, world, stocks : 131.7 Mt compared to 134.7 Mt last month and 112.4 Mt in 2023-2024 (source: USDA).
Commerce international :
- Palm oil, Malaysia, exports : 1.73 Mt in October 2024 (source: Malaysian Palm Oil Board);
- Palm oil, Malaysia, exports : 419,094 t from November 1 to 10, 2024, i.e. -14.6% compared to the previous month (source: AmSpec);
- Soybeans, United States, export sales : 107,000 t to China and 132,000 t to unknown destinations (source: USDA).
French physical markets from November 11, 2024 (July base for cereals)
| Sunflower | Specifications | Due date | euro/t | Variation | |
|---|---|---|---|---|---|
| Bordeaux rendering | oleic Harvest 2024 | Jan-Mar | 650,00 | N | 0,00 |
| Rendered Saint-Nazaire | oleic Harvest 2024 | Jan-Mar | 650,00 | N | 0,00 |
| Rapeseed | Specifications | Due date | euro/t | Variation | |
|---|---|---|---|---|---|
| Rendering Rouen | Harvest 2024 | Jan-Mar | 540,50 | N | 2,50 |
| Fob Moselle | Harvest 2024 | Jan-Mar | 541,50 | N | 2,50 |
| Soybean meals | Specifications | Due date | euro/t | Variation | |
|---|---|---|---|---|---|
| Departure Montoir | 48% pellets Brazil | nov. | inc. | ||
| 48% pellets Brazil | dec. | inc. |
| Then | Specifications | Due date | euro/t | Variation | |
|---|---|---|---|---|---|
| Departure from Marne | forage Harvest 2024 | Nov.-Dec. | 290,00 | N | 0,50 |
| Departure from Somme/Oise | forage Harvest 2024 | Nov.-Dec. | 292,00 | N | 0,50 |
Commercial quotes for dairy products from November 7, 2024
| Milk powder | Specifications | Due date | euro/t | Variation | |
|---|---|---|---|---|---|
| NBPL departure at 30 days 5% H BT bulk | available. | 2420,00 | N |
| Whey powder | Specifications | Due date | euro/t | Variation | |
|---|---|---|---|---|---|
| NBPL departure at 30 days, BILA pH 6 bulk | available. | 855,00 | N |
Evolution dollar / euro du 11 novembre 2024
| Devise | Closing value |
|---|---|
| 1 dollar US | 0,9389 euro |
| 1 euro | 1,0651 dollar |
Chicago Futures Market Closes November 11, 2024
| Raw materials | Fence | Chicago |
|---|---|---|
| Military | 1011,75 | cents/wood. |
| Soybean meals | 295,10 | $/t |
| Soybean oil | 48,14 | cts/livre |
Closing of the Euronext futures market on November 11, 2024
| Colza (Euronext) | |
|---|---|
| Echéance | Fence |
| Feb. 2025 | 539,00 |
| May 2025 | 535,50 |
| August 2025 | 500,25 |
| Volume | 22409 |
| Rapeseed oil (Euronext) | |
|---|---|
| Echéance | Fence |
| Mars 2023 | 698,50 |
| June 2023 | 698,50 |
| Sept. 2023 | 698,50 |
| Volume | 0 |
| Rapeseed meal (Euronext) | |
|---|---|
| Echéance | Fence |
| Mars 2023 | 196,25 |
| June 2023 | 196,25 |
| Sept. 2023 | 196,25 |
| Volume | 0 |
International market quotes from November 11, 2024
| Energy | Echéance | Closing value |
|---|---|---|
| Oil (Nymex) | Dec. 2024 | 68,04 $ |
| Ocean freight indices | from November 11 | Variation |
|---|---|---|
| Baltic Dry Index (BDI) | 1558 | 63,00 |
| Baltic Panamax Index (BPI) | 1182 | 6,00 |
| Baltic Capesize Index (BCI) | 2517 | 201,00 |
| Baltic Supramax Index (BSI) | 1064 | -15,00 |
| Baltic Handysize Index (BHSI) | 701 | -2,00 |
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