THE prix rapeseed on Euronext and the markets French physical stocks progressed with the support of soya on the CBOT and oil. Sunflower prices on French markets are also increasing in the wake of rapeseed and vegetable oils.
In Chicago, the courses of military closed strongly with the support of a rapport USDA bullish. The March 2025 maturity achieved a gain of 2.63% due to stocks US soybeans below expectations. Indeed, the USDA lowered yields for the last harvest stronger than expected. In addition, the agency still estimates the production Brazilian soybean production at a lower level than analysts’ consensus with 169 Mt. With a oil also in strong progress, the factors were in place to close the week on an upward trend. Furthermore, weekly sales atexportation of the UNITED STATES fell completely into the background with 289,100 t below operators’ expectations.
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In Winnipeg, the courses of canola canadian achieved a nice increase, notably with an increase of +2.67% for the March 2025 deadline. The seed responded to the progression of soybeans and the price of oil. In addition, Canadian exports are also trending well this season with a cumulative total of 4,722 Mt compared to 2,507 Mt last year.
In Malaysiathe courses of thepalm oil also achieved a significant increase with the support of several factors. First of all, the MPOB estimated Malaysian stocks below expectations despite disappointing exports. Then, prices responded to the increase in oil prices during the day on Friday. The March 2025 palm oil contract expiry in Kuala Lumpur closed with a gain of +2.21%.
In Francethe courses of rapeseed on Euronext and the French physical markets have progressed significantly with the support of the latest USDA report, oil and the bullishness of competing vegetable oils. The prices of sunflower on French squares are also progressing in response to the progression of oilseed on European and global markets.
-On the macroeconomic side, theeuro regresses once again in the face of dollar as the inauguration of the new US president approaches Donald Trump on January 20. In fact, the director of the Bank of France sees a pause in the decline in interest rate of theEuropean Union in the second half of 2025 at the earliest. From now on, the euro-dollar parity seems within reach with the euro price close to the $1.02 level. On the side ofenergythe course of oil is progressing strongly with gains above 3%. In fact, the administration of Joe Biden presented a new package of sanctions against the Russia. This should lead to the Chine and theInde to find new sources of supply, which increases the tension on supply.
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Fundamentals:
- United States, soybeans, stocks : 10.34 Mt versus previous estimate of 12.8 Mt
- Brazil, soy, production : 169 Mt below expectations (source: USDA)
- World, soy, stocks : 128.37 Mt below expectations (source: USDA)
Commerce international :
- United States, soybeans, weekly sales as of January 2 : 289,100 t below expectations (source: USDA)
- Canada, canola, exports 2024-2025 : cumulative to 4,722 Mt against 2,507 Mt in 2023-2024 (source: Canadian Grain Commission)
- Canada, canola, weekly exports 2024-2025 : 189,700 t as of January 5 (source: Canadian Grain Commission)
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