The authorities in Indonesia will keep the palm oil export duty at 0%, The zero rate has been in force since May 2017, and it could rise in case of oil price of over 750 USD/mt.
On Wednesday wheat and soybeans prices in Chicago went down significantly. Corn ended the trade with slight decrease. In Paris rapeseed and wheat prices declined and corn went up.
Oil World's analysts raised their forecast for rapeseed yield in the EU countries for 2017-2018 by 0.4 million tonnes up to 21.4 million tonnes - a second minimal result for the last four months.
According to estimates of large oil producers in Indonesia, at the end of May palm oils stocks in the country decrease to 1.09 million tonnes, given 1.31 million tonnes a month earlier.
During the period October - April 2017, 3.182 million tonnes of canola were exported from Australia, which is by 80% more than in the same period last year - 1.98 million tonnes. Major buyers were the EU - 2.89 million tonnes(+75% or 1.65), China - 119,000 tonnes (0 tonnes).
On Tuesday continues the divergent movement of prices from Monday when wheat prices went up and corn declined. Yesterday in Chicago the soybeans also went down. In Paris rapeseed prices collapsed. Wheat prices decreased and corn increased both at minimum.
