Futures activity

  • May-22 soybean meal futures ended last week at $458.80 per short ton, down 1.5 percent from Monday’s close. The May soybean oil contract set a new high of $0.8326 per pound.

S&D and fundamental factors

  • The Rosario Grain Exchange raised its 2021/22 soybean production forecast from 40.0 to 41.2 MMT. USDA pegged Argentina’s 2021/22 crop at 43.5 MMT in the last WASDE report.

Weather, macro indicators, and news

  • Indonesia announced a new ban on palm oil exports effective Apr. 28, with no indication of its duration. President Joko Widodo cited domestic food security as the rationale behind the sudden policy change. Thus far in 2022, Indonesia has implemented several short-lived policies covering palm oil exports, such as export ceilings and higher tariffs.

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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.