November 27, 2014
Oilseed prices forecast to fall through June 2015
Soybean, rapeseed and palm oil prices as well as those for meals are forecast to fall in the year through June amid ample supplies, Oil World said.
Rotterdam prices for Brazilian soybeans may average US$452 per tonne in 2014-15, falling 19% from US$556 a year earlier. Hamburg prices for European rapeseed may fall 16% to US$435 a tonne from US$518.
US farmers are finalising a record soybean harvest, with production seen rising to 107.7 million tonnes from 91.4 million tonnes, according to the US Department of Agriculture. European Union rapeseed output rose to 22.5 million tonnes this year from 20.9 million tonnes.
World production of oilseeds are forecast to rise more sharply than expected in 2014-15, assuming about normal weather conditions in the Southern Hemisphere. Soybean production is forecast to rise to 309.1 million tonnes from 284.8 million tonnes.
Rotterdam prices for Brazil soybean meal pellets are seen sliding 20% to US$445 a tonne from US$557 in 2013-14.
For rapeseed meal, its average cost in Hamburg has fallen 23% to US$253 a tonne from US$328.
Crude palm oil for delivery in Northwest Europe is seen falling 13% to US$770 a tonne from US$881.