Record delayed sowing of soybeans in the U.S. raises the price of oilseeds

According to the USDA NASS report, as of June 3, soybean planted in the US, only 39% of the area in comparison with the expectations of experts in the 42-45% and 79% on average for 5 years. During the week managed to get only 10% of the area due to precipitation, which will last another 5 days. Shoots were obtained on 19% of area vs. 56% on average for 5 years.

Low rates of sowing lead to a rapid increase in the prices of soybeans and other oilseeds, as doceat square at the optimum time will not succeed. Even if soy doseur fully, the harvest will decrease significantly.

Since the report was published after completion of trading, soybean futures in Chicago have declined following the fall in oil prices to 61 $/bbl. But after the report of the July futures rose by 1.9% to 327,8 $/t, and the November – to 337,3 $/t

the price of soybean oil rose to 605,6 $/t, while palm oil in Malaysia after oil fell 2.4% to 485 $/t

Prices for Ukrainian sunflower oil will remain under pressure from declining demand and falling prices of palm oil, but a shortage of supply them a little support. Demand prices remain at 695-700 $/MT FOB, and bid prices for deliveries in July-August – at the level 710-712 $/t FOB.

the Sunflower sown of 5.61 million hectares or 98,2% of the forecast compared to 5,625 million hectares on this date last year. Against the background of growth of the dollar purchase price of sunflower Monday increased by 100-200 UAH/t to 11200-11700 UAH/t with delivery to the plant and 10600-11000 UAH/t on the French economy.

As of June 3, sunflower in Russia sowed 8 mln ha, or 103,5% of the forecast, whereas last year at this date were sown on 7.5 million hectares of the total 8.2 million hectares.

Prices for rapeseed in the EU remain at 370,5 €/t, however, due to the appreciation of the Euro against the dollar with 1,113 1,125 dollar to the price of August futures rose to 416,85 $/t

In Ukraine, the forward prices for rapeseed are 397-402 $/t for July delivery, and for a good harvest forecasts will remain at the same level.