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Monday, 21 May 2018
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Market Report May 2018
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General Oils and Fats complex

Soybean Oil

Soja

Many market participants believe that soybean oil reached its bottom price already. Especially, the increasing demand from the biodiesel industry is leading to a firmer price level in the near future. In the food industry the demand is also rising due to the favorable level. However, a further price increase is not expected due to the good weather predictions in the US cultivation areas.

Sunflower Oil

The processing in Russia and the Ukraine is strongly decreasing, which led to higher sunflower oil prices, especially for the high oleic verity.

Rapeseed Oil

Raps

The dramatically reduced cultivation areas of the planting report from 27.04.2018 is questioned in Canada. One expects much higher areas which were sown. In the EU the high stocks are putting pressure on the price level, especially, the demand for EU rapeseed oil for the biodiesel production is affected due to the huge arrivals from Indonesia and Malaysia, which are produced of palm oil.

General Situation

The weather conditions in the Northern hemisphere are going to be a crucial factor for the future price development. After the huge crop losses in South America, favorable weather conditions are required for the plants in the US cultivation areas in order to compensate these losses. But also in Europe and the Black Sea region the weather is going to play a major role. A further aspect for the price development are the trade relations between the USA and China. If China is going to impose taxes on US soybean products, these lead to fewer imports. Since the South American quantities are not going to be sufficient, China may compensate them by palm and rapeseed oil. Finally, the firmer US Dollar in comparison to the Euro is going to have an impact. Taking into account the current uncertainties the price level is interesting for a long-term coverage.

Key products from the GUSTAV HEESS production in the USA

Almond Oil

The impact of the cold snap in the second half of February 2018 was of big concern to the farmers. The cold temperatures during the bloom of the Almonds damaged the nuts in the night and disrupted the bee flight during daytime. Current investigations of the Almond orchards show about 10-15% crop damage due to this frost in February. However, this crop damage is compensated by more planted acreage. This means the Almond market should remain stable and the supply of Almond oil from our own production in California is well secured.

Almondbloom

Walnut Oil

It is still too early for precise predictions about this seasons Walnuts crop. After the bloom of the Walnut orchards is finished, the first reliable crop estimations will be available.

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