Prices for soybeans and sunflower in Ukraine are lowered after the price of oil

2020-02-05 12:05:28
Machine translation
Prices for soybeans and sunflower in Ukraine are lowered after the price of oil

After skyrocketing prices of soybeans and sunflower in Ukraine, due to podarochnyi vegetable oils and a strengthening of the dollar against the hryvnia by 5% in January, from the beginning of February, prices began to fall under pressure from the gradual strengthening of the hryvnia, increase in offers from the manufacturers and the drop in prices of palm oil 9% last week.

 

the Purchase price of sunflower decreased to 10300-10600 UAH/t with dostavku to the plant, although a week ago, refiners bought it for 10700-10900 UAH/t

 

Export prices for Ukrainian sunflower oil for the month fell by 60-80 $/t to 715-725 $/t FOB for shipments in March and may will remain at this level, if the situation with coronavirus not worsen.

 

Futures on palm oil in Malaysia and soybean in the United States Monday recovered slightly after the fall, ignoring the decline in vegetable oil to Talansky exchange to 3-month low. The April contracts for malaysisch palm oil yesterday rose 2.1% to a 3-day high 2668 Ringgits/t or 649,31 $/t. the Quotes supported the promise of the Prime Minister of Pakistan Imran Khan "to do everything possible to compensate" the losses caused India to ban import of palm oil from Malaysia after a political dispute. In January Pakistan increased purchases of palm oil in Malaysia by 50%.

 

Futures for soybean oil in the U.S. rose 1.8% to 685 $/t due to speculators who believe that with the additional intervention, China will be able to compensate for economic losses from coronavirus.

 

March soybean futures on Monday rose slightly on Tuesday, but fell to 324 $/t on the data about reduction of volumes of soybean in the U.S. in December to 5.03 million tonnes, though inferior to November but remains the second largest historical figure.

 

The soybean market under pressure from the increase in the forecast virobnictva in Brazil to 124 million tonnes IN 2019/20 MG the country reduced the export of soybeans on 11 million tonnes to 73,45 million tonnes in purchases by China of U.S. soybeans, so competition for the Chinese market will put pressure on prices. The price of Brazilian soybeans for March-April is $ 345 $/MT FOB Brazil correspond to the price level on the American soybean 346-348 $/t FOB US Gulf.

 

Export price of soybeans in Ukraine increased up to 360-365 $/t CPT or 370-385 $/t FOB, but exporters reduce purchases, resulting in lower prices at 5-6 $/t

 

After the adoption of the law on "soy dressing" processors raised purchase prices for soybeans in 9700-10000 UAH/t with delivery to the plant to accumulate more material before exporters start buying soybeans for the hryvnia. The decline in export prices for soybeans in the near future may lower the purchase prices of the processors.

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