Futures activity

  • Nearing expiration, May-22 soybean futures closed Friday at $16.55 per bushel, down about $0.53 per bushel from the start of the week. Nov-22 soybeans ended the week down $0.44 at $14.7075 per bushel.

S&D and fundamental factors

  • U.S. soybean plantings were 8 percent complete as of May 1, down from 22 percent a year ago and the five-year average of 13 percent.
  • There is market speculation that Indonesia will end its palm oil export ban later in May, creating pressure for palm oil prices.

Weather, macro indicators, and news

  • Russia has raised its export duty on sunflower oil from $152.80 to $525 per MT—up 41 percent—citing runaway prices for sunflower oil domestically. Export duties have been in place since Mar. 27, 2021 and are tied to a floating index that pegs prices at $1,750 per MT ($0.79 per pound).

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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.