A short overview of current market situation
August 24, 2010
Due to dry weather in eastern Europe supply will become lower for rapeseeds, and sunflower seeds. Combined with bad news about wheat crops due to severe drought, commodities have climbed over the past few weeks. For soya crops in the U.S. development is good. Latest data would usually give prices reason to become lower. Stocks in US are high, and the weather is favorable. Mineral oil prices, and weaker outside markets are now taking prices down for a while.
Worldwide demand for soyabean oil has gone up though, and this will give strength to the market.
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