Market reports
Market Report July 2020
General market situation for vegetable oils and current market situation for soybean oil, sunflower oil, rapeseed oil, almond oil, walnut oil and pistachio oil
General oils and fats complex
Soybean oil
There has been a significant price increase for soybean oil recently. On the one hand, this is due to the much higher Chinese imports. On the other hand, the USA reported smaller cultivation areas on which oil seeds are going to be planted than in the previous year. Additionally, there is the typical seasonal price impact of the weather, especially, warm and dry conditions may lead to a further upward trend.
Meanwhile, the latest price increase for mineral oil led to more attractive biodiesel prices again. Currently, the quantities for refined soybean oil are very scarce in Central Europe for the summer months and there are high premiums to be paid for these positions.
Sunflower oil
Lately, prices for the coming crop have been decreasing, so that sunflower oil became a very interesting alternative to rapeseed and soybean oil. This is due to the expected record harvest in Russia and the Ukraine, but also in Romania, which led to huge sales by the farmers.
Rapeseed oil
The prices for rapeseed oil maintain firm, since the rapeseed crop as expected is not going to be good, so that the EU will become an importer soon.
Key Products from the Gustav Heess Production in the USA
Almond oil
The almond orchards around our oil mill and refinery in California are looking great and the crop looks healthy.
88% of the crop is already sold which is a good number.
Walnut oil
Walnuts also appear very healthy and more acres are coming to bear.
Water level
Reservoirs are all still well filled with water levels close to the historical average and mostly above 70% of max. capacity.
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