Prices for vegetable oils fall following the soybean market

the price of vegetable oil is reduced under the pressure of falling oil prices and strained relations between the U.S. and Mexico and China, which may slow the development of the world economy.

Before the publication of the June report USDA the price of soybeans in Chicago are down as traders try to assess the increase in acreage under soybean for nedoseev corn in the United States. Monday will be published the report on crops in the United States, on Tuesday – balance USDA with the new estimates of the acreage and harvest of soybeans and corn in the United States and the world.

the July soybean futures traded on 318,5 $/t in November – at 328,5 $/t

the Export of soybeans from the U.S. last week rose by 125 tonnes to 510 thousand tons, which exceeded the traders ' expectations and has supported prices.

the Chinese Agency CNGOIC lowered the forecast of soybean imports in the country this season at 3 million tons to 84 million tons due to the tension in relations with the United States.

President, trump announced the introduction of additional duties on Chinese goods worth $ 300 billion, if the meeting with the President of China, which will be held in June in the framework of the G-20 summit will not resolve the issues concerning the signing of a trade agreement.

after a long religious holidays in Malaysia stock trading in palm oil was conducted.

the price of soybean oil in Chicago yesterday rose 2% to 611,7 $/t on the back of speculative demand.

In Ukraine the prices for sunflower oil fell sharply because of increased supply and reduced demand, due to falling demand for soy and palm oil.

bid Prices on the domestic sunflower oil fell to $700/MT FOB, while the bid – to 686-690 $/t FOB for shipments in June-September.

July futures on rapeseed oil in the EU remain at a low level 725-730,7 €/t FOB, while August fell to 718-722 €/t FOB.

High prices for sunflower oil and growth of the exchange rate of hryvnia increased purchasing prices for sunflower in Ukraine to 11300-11800 UAH/t with delivery to the plant. Yesterday, however, the hryvnia began to strengthen, and oil to be cheaper so refiners have lowered the price to 11300-11600 UAH/t, and in the future they will be reduced.