US - While the grains market has been undergoing a period of volatility recently, the general trend for oilseed prices is that of support.
Over the last seven weeks, we’ve seen a period of consistent historically high demand for US soyabeans.
Due to the high demand, and other factors such as logistical issues providing support for the market, the oilseed complex has managed to hold on to the general upward trend much better than grains.
However, at the same time, crude oil futures prices are still in decline, having now dipped below $60 per barrel.
So the longer term outlook for the vegetable oil market may be questionable, which in turn may add pressure to oilseeds prices.
TheCropSite News Desk