February 26, 2021

Every two weeks, Lidea will publish a newsletter, in partnership with Agritel, on trends and the agricultural market.

Lets’ see, how market situation has evolved since last two weeks.

Oilseed complex:

The weather is still the key factor (along with logistics) for getting Brazil’s soya seed to market. More rain is currently expected in Mato Grosso.

Incidentally, in its report published last week, the USDA made some slight changes to the balance sheet for soya. Low ending stocks in the USA leave little room for new export sales (alternatively, imports will have to wait).

On the vegetable oils market, crush margins are currently good. Rapeseed-based biodiesel recently hit a campaign high, driven by crude oil and the cold weather. Incidentally, Chinese demand is now also focusing on European rapeseed oil, which is underpinning prices.

Cereals complex:

The USDA’s report brought some corrections for the maize market, leading to corrections for the cereals market. Nonetheless, the fundamental situation remains particularly tight for the current campaign, especially in Europe. With regard to maize, eyes are still focused on South America whilst Brazil’s harvests are being disrupted by excess water. China’s purchases have eased because of the Chinese New Year. In addition to harvest conditions in South America, changes in the growing conditions for new-crop wheat must also be monitored. Some producing states in the USA have been affected by sub-zero temperatures and the risk of frost may pose a threat for crops.

English version : AGRITEL Newsletter EN

French version : AGRITEL Newsletter  FR

Russian version : AGRITEL Newsletter RU

German version : AGRITEL Newsletter DE



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