The price of soybeans increases, despite the increase in production
According to the updated IGC forecast world production of soybeans in the season 2016/17 MG may be 336 million tons, while a month ago it was projected at 3.6 million tons less. In 2015/16 G were collected 315,2 million tons of soybeans.
the Initial reserves are estimated at 34.1 million tons, while in November the balance they were estimated at 32.7 million tons, and last season was 37.9 million tonnes.
Global supply of soybeans is projected at 370,1 million tons, whereas last season it was 353,1 million tons, and a month ago was estimated at 365,1 million tonnes.
the Volume of world trade relative to the previous balance reduced by 0.5 million tons to 137 million tons, down 3.6 million tons ahead score of the season 2015/16.
consumption Forecast increased 0.5 million tons to 332,3 million tons, whereas in the previous season the figure was 319 million tonnes.
Transitional ending stocks are projected at 37.8 million tonnes, 4.4 million tonnes more than the previous forecast. In season 2015/16, the figure was 34.1 million tons, and in 2014/15 is 37.9 million tonnes.
After the increase in oil prices to 54-55 $/barrel price of U.S. soybeans rose to 388,38 $/ton.
the Price of Ukrainian soybeans also rose to a 372-375 $/ton delivery to port or 11250-11300 UAH/t. The main factor of the price growth is the devaluation of the hryvnia 25.6 to 26.10 UAH/$. On the domestic elevators price of soybeans increased by 50-150 UAH and 10700-10800 UAH/ton.