Prices for soybeans and oil continue to fall

2017-10-03 12:10:13
Machine translation
Prices for soybeans and oil continue to fall

the November soybean futures during the week, fell 1.1% to 9.57 $/bushel or 350 $/t on the news about the increase in the rate of harvest of the oilseed in the United States (threshed 22% of the area against 26% last year) and an increase in supply on the physical market. Low water level in the rivers has led to growth of tariffs for transportation of grain barges and the decline in prices on the domestic elevators.

 

Another factor of pressure on prices was the decline in export sales to 894 thousand tons, 140 thousand tons less than last week.

 

a Decline in prices for palm oil by 5-10 $/MT to the level 660-665 $/t pressure on the price of soybean oil last week in Chicago fell by 0.9% to 717,6 $/t to its lowest level in the last three months. Protection Agency United States environmental is preparing a decision to reduce the use of biodiesel in the fuel, which also negatively affects the market.

 

In Ukraine, the price of soybeans at the port remain at the level 358-361 $/t, but for GMO-free soy prices continue to rise and are 372-377 $/t at the port and 380-385 $/t at the border Ukraine-Poland.

 

depreciation of the national currency caused an increase of UAH prices by 100-150 UAH/t to the level 11100-11200 UAH/t on GMO soy, and 12000-12100 UAH/t for soybeans non-GMO delivery to the port. Processors offer 10700-11000 UAH/ delivery to the plant.