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Soy oil closes higher in Europe, China and India

Posted by Marina

According to what T&F Consultoria Agroecômica reported, soybean oil closed higher in Europe, China and India. “At Dallian's Chinese port, soybeans dropped to $ 655.99 from $ 680.08 the previous day; soybean meal dropped to US $ 430.52, like the US $ 438.90 the previous day, and soybean oil advanced to US $ 1014.98, like US $ 992.24 the previous day ”, he comments.

“In Rotterdam, the main non-China port for demand for soybeans and by-products, the price of the first month of soybeans quoted rose to $ 425.40 / t from $ 421.20 / t the day before; soy pellets advanced to US $ 431.00 as the US $ 424.00 of the previous day, afloat ”, he adds.



In addition, vegetable oil prices for the first month ended the day quoted as follows. “Canola oil advanced to $ 954.70 / t against $ 952.21 / t the previous day; linseed oil was quoted at $ 1080.00 / t against $ 1077.50 / t the previous day; soybean oil advanced to $ 910.82 / t against $ 884.79 / t the previous day; sunflower oil advanced to $ 1060.00 as the previous day's $ 980.00 and palm oil dropped to $ 740.00 as the previous day's $ 742.50 / t ", he informs.

"In India, the largest importer of vegetable oils in the world, soybean oil increased to US $ 920.00, as compared to US $ 920.00 / t the previous day, in New Delhi, as shown in the graph on the side", he comments.

Still in the international market, China bought 3 positions from the USA and 4 from Brazil on Monday. “There were 3 positions in the Gulf and 4 in Brazil. While American soy premiums remained stable (for the 4 reasons explained above), Brazil's rose by 4 cents / bushel. In the Paranaguá paper market, there were deals for March at + 64H, April / May at + 54k and June at + 62N ”, he concludes.

Source: Agrolink

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