On the eve of Christmas the price of vegetable oil update records

the Strike of port workers at the enterprises of Argentina, the deficit of precipitation on crops of a soya and sunflower on the background of rise in price of oil at 2-3% support prices for vegetable oils, as has already reached the highest over the last 10 years levels.

the Port strike in Argentina continues for more than 2 weeks, and the likelihood of resolving the dispute in the coming days yet, so over the Christmas weekends export shipments are unlikely to recover. Given this, in recent sessions, traders continued to purchase contracts for soybeans, oil and meal.

the Dry conditions in Argentina last week and the following 2-3 days reduce the yield potential of soybeans and corn, although from Monday to Friday throughout the country, especially in the Northern and Western regions, rains.

the Volume of soybean processing in the country is reduced, and in 2020 he was only 35 million tonnes, which is the lowest figure the last 7 years. Stop enterprises in December will lead to a drop in processing volumes to a new low.

the Situation in Argentina is the main factor supporting prices for soybeans and its by-products on US exchanges.

With the beginning of the week January futures for soybean meal on the Chicago Board of CBOT rose 3% to $463/tonne, of soybeans by 2.4% to its highest since July 2014 level 466 $/ton, and soybean oil – by 3.7% to its highest since June 2014 level 901 $/t

as a Result of stopping shipments from Argentine exports of soybean meal from the U.S. last week rose to 224 thousand tons, which is 62% higher than the corresponding period last year. While export sales of soybeans for the week was the smallest in the season 352 thousand tons, although the whole season has already been implemented 90,4% of the forecast. The actual soybean exports for the week totaled 2,515 million tons, and only in the season of 34.9 million tonnes from the USDA projected 60 million tons.

Futures on palm oil exchange in Malaysia yesterday rose 3.6% to its highest since may 2012 level 3535 Ringgits/t or 870 $/t for data on the reduction of oil production in 20 days of December compared with November at 14% and projections of lower production by the end of 2020 to 6-year low.

Ukraine bid prices of sunflower oil after neighboring markets of vegetable oils increased to $1200/MT FOB, while prices of the survey amounted to 1180 $/MT FOB.

the Purchase prices for sunflower seeds continued to increase, but producers are not increased sales, scheduling them for next year. Although it is possible to reduce the VAT rate from 20% to 14% will dramatically reduce the price of sunflower and farmers ' income.