Commodity Trading Intelligence
Regular market commentary from our trading desk covering the agricultural commodities we supply — soya beans, colza seeds, sugar, chamomile, hibiscus, and lentils. Stay informed on the trends shaping global supply and pricing.
Trading Desk View
Brazilian soybean exports continue to face port congestion at Santos and Paranaguá, tightening nearby supply and supporting CBOT futures. The July/November spread has widened to reflect near-term tightness against an expected large Northern Hemisphere harvest. Crush margins remain healthy, underpinning meal and oil demand.
Timely rainfall across France and Germany in late May has improved crop ratings for the 2026 colza harvest. Analysts have revised production estimates upward by 3–4%, which has capped the recent rally in Euronext futures. However, strong biodiesel demand from the EU renewable energy sector continues to provide a floor.
The Indian government has confirmed a partial lifting of export restrictions for the 2025/26 season, allowing up to 3 million MT of raw sugar exports. This has weighed on the No.11 contract, which retreated from recent highs. Brazilian Centre-South crushing is running ahead of last year, adding further supply pressure in the medium term.
Global demand for hibiscus continues to outpace supply growth, driven by the rapid expansion of functional and wellness beverages in Europe and North America. Egyptian production is expected to be broadly stable year-on-year, but with limited inventory carryover, buyers are increasingly seeking forward cover. Prices have firmed 8% since January.
What We Watch
Seasonal weather patterns, drought risk, and crop development across key origination regions are the primary drivers of physical supply and futures price direction.
We monitor CBOT, Euronext, and ICE futures continuously, alongside physical basis levels at key origins and destinations, to identify value and manage price risk.
Import demand from China, the EU, and Southeast Asia drives the oilseed complex. Beverage and wellness trends are reshaping botanical demand at pace.
Export restrictions, import tariffs, biofuel mandates, and phytosanitary regulations can shift trade flows rapidly. We track policy developments across all key markets.
Our trading team publishes regular market notes covering price movements, crop developments, and trade flow analysis across our commodity portfolio. Get in touch to be added to our distribution list.
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