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Latest market news

EU rapeseed crush rose in Jan with Australian canola

  • : Agriculture, Biofuels
  • 25/02/18

European rapeseed crush volumes increased by 112,000t on the month in January. Soybean and sunflower seed crushing fell by 73,000t and 80,000t respectively, as EU and UK crushers took advantage of steady Australian canola imports.

  • Rapeseed crushing rose by 7pc, mostly due to a strong start in Australia's canola export season, with much of the supply heading to Europe. Higher-than-average exports can be attributed to a large harvest, strong European demand and increased port capacity.
  • High soybean oil prices helped make rapeseed oil more attractive in January. Soybean crushing fell by 5pc on the month, with high prices after the US issued guidance on the 45Z production tax credit to allow US low-carbon fuel producers to immediately start claiming credits, supporting demand for US soybeans and soybean oil. Month 1 CBOT soybeans futures reached a six-month high on 21 January, and month 1 CBOT soybean oil reached a two month high on January 17.
  • Sunflower seeds made up just 13pc of total crushed oilseeds in the EU and the UK, down from a 2024 average of 16pc and a six-month low. Crush volumes fell significantly on the month and the year, by 16pc and 26pc respectively. Many Ukrainian sunflower crushing plants remained idle or operated at reduced rates in January, with lower demand for sunflower oil pressuring crush margins.

By Madeleine Jenkins

EU-27 + UK crushing volumes1,000t
JanuaryDecember% m-o-m changeJan-24% y-o-y change
Soybean1,2701,343-5.4%1,1708.5%
Sunflower seed434514-15.6%589-26.3%
Rapeseed1,6561,5447.3%1,680-1.4%
Semi-refined3353320.9%356-5.9%
Fully-refined5805476.0%613-5.4%
Total
Total oilseed3,3603,401-1.2%3,439-2.3%
Total refined9148784.1%969-5.7%
Fediol

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26/02/06

India to buy $500bn of US energy, other products

India to buy $500bn of US energy, other products

Washington, 6 February (Argus) — India has committed to buying $500bn of US energy commodities, coking coal, aircraft and parts, precious metals and technology products in the next five years, the White House said Friday. A fact sheet detailing the preliminary terms of the US-India trade deal also announces plans by the US to slash the general tariff on imports from India to 18pc from 25pc. President Donald Trump on Friday separately signed an executive order removing an additional 25pc tariff on imports from India, which was imposed in August to pressure New Delhi to cut imports of Russian crude. The US will commit to removing tariffs on some aircraft and parts imported from India, as well as providing some relief for tariffs on steel and copper imports from India, according to the fact sheet , which does not provide a timeline for these actions. The US will also provide a preferential tariff quota for imports of cars and auto parts from India. The US and India also committed to increasing trade in key components underpinning the construction of data servers. India plans to eliminate or reduce tariffs on all US industrial goods and "a wide range" of US agricultural products. The terms of the deal as outlined in the fact sheet will be finalized in further negotiations, according to the White House. By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

US soy volatile on possible China buying

26/02/06
26/02/06

US soy volatile on possible China buying

St Louis, 6 February (Argus) — US soybean futures contracts briefly spiked early today as the market adjusted to signs that China may again be resuming US soybean purchasing. The May delivered Chicago Board of Trade (CBOT) soybean contract gained $0.174/bushel (bu) within an hour of opening this morning, before shedding those gains and then some, closing the day down by $0.042/bu at $11.28/bu. The May CBOT contract still closed the day slightly above Thursday's closing value, marking the fourth consecutive day of gains this week. Basis gains for new crop soybeans loaded in the Pacific Northwest were also reported today, further support for what market sources tell Argus is Chinese buyers re-engaging with the US. Buyers may have contracted overnight for as many as seven cargoes for April-May loading in the US Gulf, according to sources. Friday's trades follow an unanticipated boost to futures prices on 4 February from a social media post from US president Donald Trump declaring China would increase its US soybean purchases by 8mn t. If China has returned to US soybean markets, it raises questions regarding the outlook for US-Chinese soybean trade going forward. Currently, China has an agreement to purchase 12mn t of US soybeans by the end of this month, and another 25mn t per-year for the next three years. As of 29 January, total US soybean sales to China reached 9.89mn t for this marketing year, with 100,000t sold during that week alone, according to US Department of Agriculture data. This seems to be at odds with US treasury secretary Scott Bessent's claim on 20 January that China had completed its purchases of the first 12mn t. If China did purchase more US soybeans this morning, in line with Trump's claim the country would buy another 8mn t, it is unclear how these sales would tally towards the current agreement. If they are considered an extension of the current 12mn t agreement, then that might mean China will move to secure these volumes before the end of February. If not, they might be added to the 25mn t obligation for 2026. That would put US soybean sales to China at 33mn t for 2026, which would be the most since the 2020-21 marketing year. Either way, Trump's claim and the potential re-engaging of China in US soybean markets is likely to detach the markets understanding of the US-China soybean trade agreement from its stated terms. That could mean more volatility and uncertainty for commodity prices moving forward. By Ryan Koory Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Asian, Finnish firms start Sony bioplastic supply chain

26/02/06
26/02/06

Asian, Finnish firms start Sony bioplastic supply chain

Tokyo, 6 February (Argus) — Asian and Finnish companies in chemicals, refining and trading have created a bioplastic supply chain for Japanese electronics maker Sony to cut greenhouse gas (GHG) emissions in electronics production. In the supply chain, Finnish biofuels producer Neste will supply bionaphtha to four petrochemical companies, the companies said on 6 February. The supply chain of multiple companies works like this: Japanese refiner Eneos and South Korean chemicals firm SK Geo Centric will process the bionaphtha supplied by Neste at their crackers to produce bio-paraxylene (bio-PX); this bio-PX will be used by South Korea's Hanwha Impact to make renewable terephthalic acid; that is then converted to renewable polyethylene terephthalate (rPET) resin and films by Japanese firm Toray's South Korean subsidiary Toray Advanced Materials Korea. Eneos has already started supplying the bio-paraxylene produced at its Mizushima refinery in western Japan, the company said. Other companies involved in the supply chain are Japanese refiner Idemitsu which uses bionaphtha at its cracker to produce renewable styrene monomer, which Taiwan's Formosa Chemicals and Fibre (FCFC) converts to renewable polystyrene resin. Another Japanese chemicals firm, Mitsui Chemicals, also uses Neste's bionaphtha to produce bisphenol-A. Japan's Adeka also uses a bio-derived feedstock to make flame retardants, while Chinese firm Qingdao Haier New Material Development produces polycarbonate or acrylonitrile butadiene styrene (ABS) resin. Taiwan-based Chimei also supplies renewable polycarbonate resin. All these biochemical materials will be processed by plastics molding companies for Sony's new products. Using a mass balance approach, biomass-based attributes will be allocated to the products across the supply chain. Japanese trading house Mitsubishi will coordinate the entire chain and manage the delivery of environmental credits. The total volume of bio-naphtha needed for the chain was not disclosed. Using Neste's bionaphtha typically reduces GHG emissions by around 85pc compared with using only conventional fossil-derived naphtha, Mitsubishi said. Sony plans to roll out new audio-visual products made with these renewable plastics globally as it aims to achieve net-zero GHG emissions by 2040. Argus last assessed bionaphtha delivered to northeast Asia at $1,875/t cfr on 6 February, $1,270/t over Japanese fossil naphtha. The range of downstream bio-based products in development continues to expand, but high prices for bionaphtha and downstream biochemicals continue to inhibit wider adoption and commercialisation, according to chemical producers in the region. By Kohei Yamamoto and Lauren Moffitt Supply chain partners Company Role Neste Production of bionaphtha Idemitsu Kosan Production of renewable styrene monomer Formosa Chemicals and Fibre Production of renewable polystyrene resin SK Geo Centric Production of renewable para-xylene Eneos Production of renewable para-xylene Hanwha Impact Production of renewable terephthalic acid Toray Advanced Materials Korea Production of renewable PET resin Mitsui Chemicals Production of renewable bisphenol-A CHIMEI Production of renewable polycarbonate (PC) resin ADEKA Production of renewable flame retardants Qingdao Haier New Material Development Production of renewable PC/ABS resin Sony Design and manufacturing of finished products Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

E15 'council' convenes without Dem. lawmakers

26/02/05
26/02/05

E15 'council' convenes without Dem. lawmakers

New York, 5 February (Argus) — A council of Republican lawmakers tasked with negotiating major changes to US fuel policy held its first meeting Tuesday evening, leaving out Democrats that had pushed for a seat at the table. The US House of Representatives last month punted on a proposal that would have allowed year-round sales of gasoline with up to 15pc ethanol (E15) and restricted how many refiners can win hardship exemptions from annual biofuel mandates. Instead, lawmakers tasked a new "rural domestic energy council" with developing policy recommendations by 15 February in the hopes that Congress will weigh legislation by 25 February. The full council met for the first time Tuesday evening, four people familiar with the matter said. The task force includes more than 20 House Republicans with a range of views on biofuel policy, but no Democrats, two of the people said. The office of House speaker Mike Johnson (R-Louisiana), who was in charge of appointing council members, did not respond to Argus' requests for comment. "My Democratic colleagues and I have been clear about the need for Democratic voices on this council — a concern leadership has so far failed to address," representative Nikki Budzinski (D-Illinois) said. "I will continue to press for real, bipartisan action that our growers deserve." Proposals to expand E15 have historically drawn bipartisan support, particularly from Midwestern lawmakers keen to help the region's farmers. Democrats could still support legislation that includes an E15 deal even if left out of negotiations this month. But some lobbyists close to the debate privately doubt that the council will reach any substantial compromise, especially after the earlier E15 proposal drew strong opposition from mid-sized oil refiners that want to maintain their ability to avoid the costly biofuel quotas. The council includes members from states with those refineries, including Gabe Evans' district (R-Colorado), where a Suncor refining complex is located, while CVR Energy and HF Sinclair have units in council co-chair Stephanie Bice's state (R-Oklahoma). Some Republican US senators that have long wanted deeper reforms to the biofuel mandate program are also skeptical of the earlier proposal, complicating any deal's chance of passage. "The federal government should not force Americans to put ethanol in their gas tanks," senator Mike Lee (R-Utah) said. "It is not good for the economy, the environment or car engines. We should not subsidize the corn industry at the expense of hardworking American families." The latest E15 proposal was developed partly by the American Petroleum Institute — an influential lobby within the Republican Party — and has won the support of larger oil refiners like Valero. Farmers' and fuel groups that support the earlier bill have urged the council to focus narrowly on improving it, rather than considering more divisive fuel market issues too. President Donald Trump, who has backed the biofuel industry with a proposal last year for record-high blend mandates, has made clear that he would sign legislation expanding E15 access. He said in an Iowa speech last month that he was optimistic Congress could strike a deal. It is unclear when the council, which includes a number of farm-state biofuel supporters too, plans to meet again. The large majority of gasoline in the US is sold as a 10pc ethanol blend. Farm advocates have pushed for over a decade to loosen summertime smog rules that forbid sales of higher blends in much of the country without emergency waivers . By Cole Martin Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

STJ endossa Cbios, mas estoques limitam preços

26/02/05
26/02/05

STJ endossa Cbios, mas estoques limitam preços

Sao Paulo, 5 February (Argus) — A decisão do Superior Tribunal de Justiça (STJ) de suspender liminares que blindavam distribuidoras inadimplentes em créditos de descarbonização (Cbios) de sanções previstas na legislação pode ampliar a demanda esperada por títulos no ciclo de 2026, mas com efeitos limitados sobre os preços. O movimento foi visto por participantes do mercado como um endosso institucional relevante para a Política Nacional de Biocombustíveis (Renovabio) em um momento ainda desafiador para autoridades públicas no enforcement da nova lei dos Cbios (Lei nº 15.082/2024) e diante de persistente judicialização. A avaliação é de que o instrumento confere maior autoridade à Agência Nacional do Petróleo, Gás Natural e Biocombustíveis (ANP) na aplicação de retaliações contra empresas em desconformidade com a política pública e pode frear novas decisões contrárias ao Renovabio em instâncias inferiores do Poder Judiciário. Ao menos 43 processos questionando o Renovabio tramitam em diversas esferas do Poder Judiciário, sendo que seis haviam resultado em liminares favoráveis a distribuidores, segundo levantamento feito pelo governo federal. Na prática, a suspensão das liminares tende a aumentar a percepção de risco de distribuidoras inadimplentes, gerando um impulso na demanda por Cbios, mas com capacidade limitada de pressionar a abundância de créditos em estoque e um ritmo acelerado de emissões esperadas para o ciclo atual. Perfil da inadimplência Das 160 distribuidoras registradas no Renovabio, 61 iniciaram o ano de 2025 com algum saldo de Cbios devidos de ciclos anteriores, segundo a ANP. O grupo de empresas enquadradas como inadimplentes do programa encerrou o ano com 29 nomes. A redução na taxa de inadimplência ao Renovabio contribuiu para elevar o percentual de cumprimento da meta em 2025 para 82pc, ante 77pc registrados no ano anterior. O resultado foi comemorado por defensores do programa, mas ainda é avaliado como tímido, considerando alterações legislativas recentes que endureceram a punição a empresas em desconformidade. Os dados da ANP mostram que 17 distribuidoras mantinham algum processo judicial relacionado ao Renovabio ao final do ano passado, sendo que apenas 7 apareciam com volumes de títulos aposentados abaixo do mínimo de 85pc estabelecido pela Lei dos Cbios (Lei nº 13.576/2017). Deste grupo, só 3 não aposentaram nenhum Cbio em 2025, de acordo com os registros oficiais. Oferta forte limita avanço de preço Na avaliação de participantes do mercado, as próximas semanas darão pistas relevantes quanto aos impactos concretos da decisão do STJ sobre a demanda por Cbios, mas os preços podem ter avanços limitados no período. O elevado nível de estoques herdado dos ciclos anteriores e as expectativas por produção recorde de etanol na próxima safra devem pressionar o preço para baixo. O ano de 2026 começou com 19,611 milhões de Cbios nas mãos dos mais diversos atores do mercado, sendo 71pc com a chamada "parte não-obrigada" (produtores de biocombustíveis registrados no Renovabio) e o restante concentrado em distribuidores. Além disso, parte dos distribuidores inadimplentes se antecipou à compra de papéis, mesmo ainda questionando o Renovabio em diferentes instâncias do Poder Judiciário, buscando aproveitar os níveis de preço mais baixos praticados neste momento no mercado. O preço médio do Cbio atingiu R$29,60 em 3 de fevereiro, cerca de 61pc abaixo do patamar observado um ano antes. Apesar de insatisfeitos com os níveis atuais, muitos produtores de biocombustíveis intensificaram movimentações na última quarta-feira, acelerando vendas na faixa de R$30 em busca de reforço de caixa. Tal postura reforçou entre agentes do mercado a percepção de que podem ser necessários outros vetores para sustentar altas mais expressivas nos preços, como não só diminuição expressiva na inadimplência, mas também metas mais agressivas de aposentadorias de Cbios nos próximos ciclos. Por Marcos Mortari Envie comentários e solicite mais informações em feedback@argusmedia.com Copyright © 2026. Argus Media group . Todos os direitos reservados.

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