International Oilseed Market

07-Feb-2025 09:04 AM

International Oilseed Market
★ The KLCE market opened with gains today.
★ During the week of January 30, the USA made export deals for 387,000 tons of soybeans, 530,000 tons of soymeal, and 188 tons of soybean oil.
★ Out of 30,000 tons of sales, 15,000 tons of orders were canceled.
★ China was the largest importer, purchasing over 200,000 tons, followed by the Netherlands with 125,000 tons of soybeans from the USA.
★ According to BAGE, only 17% of Argentina’s soybean crop is in good condition, down from 20% last week, while 32% of the crop is in very poor condition due to a lack of rainfall.
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Domestic Oilseed Market
★ The Indian oilseed market continues to show a bearish trend.
★ Prices of oilseeds in the domestic market are under pressure, with soybean prices falling below the MSP (Minimum Support Price). Many large farmers have withheld their produce. Due to weak demand for oil and soymeal, crushing activity has also declined, and the same trend is observed for mustard.
★ Increased imports have put pressure on edible oil prices, affecting the mustard crop this year.
★ Acreage has decreased, and mustard sowing was weaker than last year. The new crop will start arriving soon. As prices remain below the MSP, government procurement may increase again, helping maintain availability in the market. Overall, it’s advisable not to engage in speculative trading for now.