Futures activity

  • Jul-22 soybean meal recovered nearly all losses from recent weeks to close at $429.90 per ST. The matching soybean oil contract closed below its week high to settle on May 23 at $0.8093 per pound.

S&D and fundamental factors

  • U.S. soybeans were 30 percent planted as of May 15, down from 58 percent a year ago and the five-year average of 39 percent.

Weather, macro indicators, and news

  • Indonesia gave oil markets a jolt after announcing an eventual end to its ban on palm oil exports—only to “clarify” the next day its plans to maintain 10 MMT of domestic stocks, almost a quarter of the estimated 2022 crop of 45 MMT. What the overlap will be between this reserve and domestic consumption near 17 MMT remains unclear—as does how much production, how many million metric tons, will be kept off the export market.

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Source: 123rf.com
Posted by: Information Services
Our Information Services team assists our clients with understanding commodity and ingredient market dynamics. Using our extensive database of intelligence, we also produce regular commodity and commercial market publications covering supply and demand fundamentals, news alerts on events that shape the markets, and resource guides to give you a complete picture of the industries we monitor.