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Futures Close Report: 15th November 2017

US National Oilseed Processors Association (NOPA) October figures reported oil yield per bushel crushed as the lowest in 2 years, which in turn raised some markets concerns regarding 2017 oil yields.   Less oil per bushel of beans would mean tighter supplies and higher prices for the vegetable oil.  U.S. soybean processors have already been reducing protein guarantees for the soymeal animal feed they sell due to a protein shortfall in the 2017 crop.  NOPA said its members reported an oil yield of 11.54 lbs per bushel last month, down from 11.61 lbs in the same month last year and the lowest monthly yield since November 2015.

Argentina’s government will cut the cost of docking services in the ports of Rosario, the country’s main agricultural hub when it implements a maximum rate for entry and exit guide services in December,  that figure represents about 30 percent of the port costs attached to the roughly 2,500 cargo ships that travel to Rosario annually.  Large exports that have their own port facilities such as Cargill and Bunge will see the greatest benefit from this cost reduction.