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Oilseeds: World Market Trade Report - October 2011

17 October 2011

Peanut values in Europe, which account for a third of world imports, have reached record levels in response to a shortage of high-quality peanuts. Prices have been rising since mid- 2010 as last season’s poor weather in the United States reduced availability of top-quality peanuts. This led buyers to bid-out better quality peanuts from China in an effort to cover the shortfall.

Rising Peanut Prices Reflect Growing Shortage of Quality Peanuts

Growing conditions in 2011 have been difficult in the United States and elsewhere with prices moving higher in anticipation of a growing deficit in high-quality nuts. Compounding this has been a general degradation in yields in both the United States and Argentina that has reduced production. With India’s crop, the world’s second largest, also down significantly this season, even average quality nuts may be in short supply.

With Argentina poised to ramp up plantings in the coming months and the expectation of more normal yields and quality out of the United States next season, it may take until mid- 2012 for prices to ease significantly.


Global soybean trade is reduced reflecting the slow pace of U.S. sales. Global production is down mainly due to the lower U.S. crop. Global demand for soybean meal is reduced, pressured by increased availabilities of sunflowerseed meal. Global demand for soybean oil remains strong. U.S. season average price is adjusted downward, but remains at a record.

Soybean Prices

U.S. export bids, FOB Gulf, in September fell $20 from the previous month, averaging $510 per ton, the lowest since December last year. The decline was largely driven by fears over global economic slowdown prompted by the EU debt problem, despite smaller-than-expected soybean stocks reported in the Grain Stocks.

As of the week-ending October 6, U.S. soybean commitments (outstanding sales plus accumulated exports) to China totaled 11.8 million tons, compared to 13.3 million a year ago. Total commitments to the world are 16.8 million tons compared to 22.2 million for the same period last year.


  • U.S. soybean exports are down 1.1 million tons to 37.4 million reflecting a smaller crop and strong competition from South America.
  • Russia’s sunflowerseed exports soar 300,000 tons to 320,000 on expectations that a record crop stimulates export demand.
  • EU-27 soybean meal imports are cut 700,000 tons to 23.0 million to reflect substitution of sunflowerseed meal in the region.
  • EU-27 palm oil imports are cut 300,000 tons to 5.3 million on expectations of increased use in sunflowerseed oil.

Further Reading

- You can view the full report by clicking here.

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