Born2Invest (17/11/2020) - Rice was lower last week in response to the USDA reports and the weak tone in the domestic cash market. Export demand was weaker again last week. Reports indicate that domestic demand has been poor to average with better consumer demand more than offset by much less demand from schools and other institutions. The USDA reports showed a little less yield and production and less export demand for long grain.

Palm Oil and Vegetable Oils

Palm Oil closed higher on ideas of decreasing production less supply available to a market with strong demand. Chart trends are up. It is seasonally a time for trees to produce more due to more regular rains. Getting workers to do the harvest remains hard and the lack of labor has been a big problem. Soybean Oil and Canola were higher on weaker US and world production estimates and strong demand ideas. Very strong Palm Oil prices have made buying Soybean and Canola oils the better option. Trends are up in Soybean Oil and in Canola. Demand for Soybean Oil has improved with India and South Korea buying significant amounts in the last week.  Canola farmers have reduced selling by now so demand is chasing after fewer supplies. Harvest in the Prairies is done and yields are reported to be very strong.

Read more at https://born2invest.com/articles/export-demand-rice-downward-trend-last-week/