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Ukrainian sunseed production in the new season is expected to be lower than expected because producers shifted area to soybeans after low, volatile prices. Processor purchase prices rose after sunflower oil climbed from $750 to $900 per tonne.
IGC raised its global sunseed forecast to 56.9 million tonnes.
Lower Ukrainian supply tightens sunflower oil and meal availability, while higher global IGC output partly offsets the decline. Higher seed prices support meal and oil values.
ukragroconsult.comJul 12, 2023Not enough comparable past events yet for a historical read.
After 184 past bullish weather events, Soybean Oil moved a median +0.3% over 5 sessions (53% higher; middle half -1.9% to +2.4%), and -0.5% over 20.
After 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), and +0.9% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
