Prices for soybeans in the US are falling, in Ukraine – are growing

2019-11-14 12:25:35
Prices for soybeans in the US are falling, in Ukraine – are growing

Rapid increase in soybean prices that was observed since the beginning of the season gave way to fall with the decline in demand from China and uncertainty with the December round of trade negotiations between the US and China.

 

the prices of the presses news about the purchase of Chinese companies 7 cargos of Brazilian soybeans for delivery in November-February.

 

the Brazilian Agency Conab has increased its forecast of soybean production in the country in 2019/20 MG 0.5 million tons to 120.9 million tonnes, which is still 2.14 million tons will give the report USDA in November.

 

According to the USDA, soybean has already collected 85% of the area, which is 7% less than the average for the 5 years. Dry weather in the next 7-10 days will allow the completion of harvest.

 

the Pace of soybean exports from the U.S. for the week decreased by 149 thousand tons to 1.33 million tons, although in General since the beginning of the season is 7% higher than last year.

 

In Ukraine, the price of soybeans in recent weeks, grew thanks to active export demand. Due to lower yields and acreage of soybean production in comparison with last year has decreased from 4.4 to 3.7 million tonnes. Traders are actively buying oil from foreign currency contracts, which increases the pace of exports and prices in port before 340-342 $/t on GMO soy protein 37%. Despite the high demand from Belarus prices demand for soybeans non-GMO protein 39% do not exceed 345-350 $/ton on the border of Ukraine-Belarus.

 

as a Result of low demand from processors and the strengthening of the hryvnia purchasing prices of soybeans delivered to the plant remain at the level of 8500-9100 UAH/t. the Decline in world prices will soon stop rising prices for soybeans in Ukraine and even lead to a slight decline.

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