China will support world prices for soybeans
According to forecasts of the USDA, imports of soybeans to China in the season 2016/17 MG will reach a record high of 86 million tons, 3 million tons will exceed the amount of soybeans purchased in the previous season.
Increase the procurement of oilseeds due to increased demand for feed from the livestock and poultry sectors.
the Level of domestic soybean production in the country in the season 2016/17 MG analysts estimate in the range of 12.6 to 14.1 million.
it is Worth noting that according to the Agency AgNet West, over the next four years, China plans to increase soybean production to reduce its dependence on import of oilseeds. Now the country is the largest importer of soybeans in the world.
the Increase in demand for soybeans supported prices. On us exchanges, it has risen to 359,45 $/t even amid reports of improving crops and crop forecast in the United States.
In Ukraine, prices for soybeans in anticipation of a good harvest was reduced from 370 to 360 $/ton for deliveries on CPT-port. However, as a result of the devaluation of the national currency hryvnia prices at the port rose to 10700-11000 UAH/ton.