# Market Report SEPTEMBER 2024 – Lipsa

> Lipsa's September 2024 report says the US weather has been favourable for soybeans while adverse conditions persist for Canadian canola and Black Sea sunflower. Heat and drought in Russia, Ukraine and Eastern Europe have caused irreversible sunflower damage, with at least 3.6 MnT lost in the last two months. It also notes Indonesia's planned 40% palm biodiesel blend, which would add 3-4 MnT of domestic demand.

- Date: 2024-09-03 · published 2024-09-03T12:00:00.000Z
- Category: weather · region Black Sea · magnitude medium
- Page: https://feedsoft.ai/events/6157-market-report-september-2024-lipsa
- Commodities: [Sunflower Meal](https://feedsoft.ai/c/SUNMEAL.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Sunflower seed losses in the Black Sea tighten global vegetable oil supply and support sunflower meal and palm oil prices. The Indonesian biodiesel mandate would absorb more palm oil, supporting prices.

## Read by commodity

- SBO: bullish ▲
- CANMEAL: bullish ▲
- PALMOIL: bullish ▲
- SUNMEAL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2024-09-03 | 1 | +4.1% | 5.4 | Sunflower crop losses from Black Sea drought and Canadian canola problems tighten competing vegetable oil supply, while Indonesia's planned B40 biodiesel adds palm demand, bullish for palm. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2023-09-18 | [September 18](https://feedsoft.ai/events/34204-september-18.md) | -1.6% | -4.3% |
| PALMOIL | 2021-12-31 | [Oilseeds at the turn of the year 2021-22 market report](https://feedsoft.ai/events/43685-oilseeds-at-the-turn-of-the-year-2021-22-market-report.md) | +5.5% | +12.2% |
| PALMOIL | 2018-09-10 | [WMO El Niño/La Niña Update (September 2018) - World \| ReliefWeb](https://feedsoft.ai/events/62947-wmo-el-nino-la-nina-update-september-2018-world-reliefweb.md) | -1.2% | -2.4% |
| PALMOIL | 2026-09-02 | [Global Seasonal Climate Update - Target season: September-October-November 2026 - World \| ReliefWeb](https://feedsoft.ai/events/17394-global-seasonal-climate-update-target-season-september-october-november-2026.md) | -0.5% | -4.3% |
| PALMOIL | 2026-09-21 | [IRI – International Research Institute for Climate and Society \| September 2026 Quick Look](https://feedsoft.ai/events/17396-iri-international-research-institute-for-climate-and-society-september-2026.md) | -1.2% | -4.9% |
| SBO | 2024-09-26 | [Sunflower Market Update - September 2024 - Seedea](https://feedsoft.ai/events/28428-sunflower-market-update-september-2024-seedea.md) | -1.9% | -0.7% |
| SBO | 2023-09-18 | [September 18](https://feedsoft.ai/events/34204-september-18.md) | -0.8% | -8.8% |
| SBO | 2021-12-31 | [Oilseeds at the turn of the year 2021-22 market report](https://feedsoft.ai/events/43685-oilseeds-at-the-turn-of-the-year-2021-22-market-report.md) | +3.0% | +5.7% |

## Sources

- lipsa.es: https://www.lipsa.es/en/market-report-september-2024/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.