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Tuesday, 16 July 2019
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Market Report June 2019
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General Oils and Fats complex

Soybean Oil

The worldwide soybean production is going to decrease in 2019/2020. This is due to the smaller crop in the US. Specialists expect 10 million tons less. For the South American crop we expect reliable estimations by beginning of next year. The market has been nervous and volatile during the last weeks. However, the upward potential is very limited due to the big stocks worldwide. If the weather remains dry, farmers can sow on further areas, which will have additional pressure on pricing. Apart from the weather conditions, the traded dispute between the USA and China also led to a fluctuating market. Meanwhile, the US government set up an aid program for the affected farmers in the Middle West.

Sunflower Oil

Sunflower oil

The crops 2019/2020 are going to be slightly smaller than in the previous period. Sowing will be finished shortly in the Ukraine and the conditions for the plants are good. However, the yield per hectare is still difficult to estimate. Sunflower oil is still more expensive than soybean oil (around 70 USD / ton), which makes it rather unfavorable for the bigger tenders.

Rapeseed Oil

Rapeseed oil

The estimations for the EU rapeseed harvest are still below 18 million tons. Mainly, the German and the French crop are around 1.5 million tons smaller compared to the previous year. This will be the smallest crop size for the last 8 years. However, the Ukraine expects a record harvest at minimum 3.5 million tons. The prices have remained stable during the last days and the inverse price structure is unaffected.

Key products from the GUSTAV HEESS production in the USA

Almond Oil

Increased exports from the US to Asia and South America are keeping the demand high. The new crop is looking good and overall no price changes are expected.

Pistachio Oil

Increased exports are causing a further increase of the prices for Pistachios.

Pistachio oil

Water

A late and unusual May storm brought half an inch of rain to the area and reservoirs are well filled! The late rain ruined the cherry crop and damaged strawberries as well.

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Page 1 of 2

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