Soybeans higher as USChina jitters ease, Argentina stays dry

Chicago soybeans rose on Monday as concerns over trade tensions between China and the United States eased, shifting attention back towards crop damage in Argentina. Corn also firmed, while wheat edged lower after touching a one-week high as investors assessed the impact of rain in parched US growing belts. The Chicago Board of Trade’s most-active soybean contract gained 0.5 percent to $10.33-1/2 a bushel after hitting a one-week peak of $10.40-1/4. Soymeal, of which Argentina is the world’s biggest exporter, was up 1 percent at $381.8 a tonne.

US bean exports to China sink 25% on Brazil record crop

Chinese imports of US soybeans fell by 25% in February compared with the same month a year earlier as Brazil’s bumper crop displaced US farmer supply. China imported 5.42 million mt of soybeans in February, with the US taking a 3.345 million mt market share versus 1.75 million mt from Brazil.

Ukraine rapeseed exports in JanFeb grew 30%

Ukraine in January-February 2018 exported 84.23 thou. tons of rapeseed, which is 29.89% more than over the same period last year. For the year 2017 Ukraine traded abroad 2.14 million tons of rapeseed for the amount of USD 881.67 million. The major importers were the Netherlands, Belgium and Germany.

CANADA MUSTARD SEED MONTHLY OUTLOOK:

Mustard Seed For 2017-18, exports are forecast to be slightly lower at 120 Kt and carry-out stocks are forecast to fall. The US and the EU are the main export markets to date for Canadian mustard seed. The average price is forecast to rise sharply from the previous year due to the lower supply and expectations for lower Canadian carry-out stocks. For 2018-19, the area seeded is forecast to be like the previous year due to expectations of similar returns based on new crop contracts. Production is forecast to rise to 145 Kt with marginally lower area but higher yields when compared to the previous year. However, supply is expected to fall by 10% due to lower carry-in stocks. Exports are expected to be higher and, as a result, carry-out stocks are forecast to tighten. The average price is forecast to be slightly higher than 2017-18.