Oilseed prices continue to decline

2019-02-27 13:11:13
Oilseed prices continue to decline

outdoor harvest of soybeans in Brazil and favorable precipitation in Argentina put pressure on world prices of oilseeds.

 

heat waves in Argentina last week, could damage the soybean crop, but the situation was corrected precipitation, passed in the last days. They will help to increase productivity, making soybean production will reach earlier projected 53 million tons.

 

According to AgRural, as of 25 February, soybean in Brazil is collected on 45% of the area, which is 20% higher than the corresponding period last year. Thus basically the state-producer – Mato Grosso soybeans are collected on 80% of the area.

 

on Tuesday, the price of oil, which they lost 3%, recovered to 65.5 $per barrel, however, this is not supported by the vegetable oil markets.

 

Palm oil in Kuala Lumpur yesterday, fell by another 1.4% to 536,5 $/t, which is close to at least January 2017 with prices under pressure from the increase in palm oil production in February to 3.55, though usually in the first quarter the production volumes are falling.

 

the Price of soybeans on the CBOT yesterday fell by 2.94 $/t to 332,07 $/t due to the lack of actual purchases by China, which announced the acquisition of another 10 million tonnes of U.S. soybeans, but during the week no one bought any of the party.

 

Under pressure from the declining prices of palm oil, sunflower oil in Ukraine fell to 1-2 $/t to 668-675 $/t FOB.

 

because of the decline In export demand, the prices of Ukrainian soybeans in the port fell to 328-330 $/t, which corresponds to the beginning of the season in October.

 

Refiners have reduced the price of the plant until 9500-10100 UAH/MT for soybeans with GMOs and 9600-10400 UAH/t for soybeans non-GMO.

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