The increase in forecast production lowers the price of sunflower

a new report by USDA's estimate of harvest of oilseeds in the black sea region in 2018/19 Mr increased compared to the previous forecast of 900 thousand tons to 44,262 million tons.

the sunflower Crop will grow due Russia, for which forecast production has increased by 500 thousand tons to 11.5 million tons.

the Production of rapeseed will increase by 200 kt also thanks to Russia, which will gather 2 million tonnes, instead of 1.8 million tons, as expected a month ago.

soybean Production will increase by 200 thousand tons due to Ukraine, for which the forecast is revised up to 4.4 million tons.

Under pressure from falling prices of palm oil continue to decline prices for black sea sunflower oil, which at the end of the week fell to 635-640 $/t FOB.

In Malaysia futures for palm oil on Friday for the first time in three years crossed the level of $500/t and decreased by 2% to 488,87 $/t at the decline of palm oil exports from the country in October compared with the previous month, by 12.9% to 1.4 million tons.

In Chicago futures for soybean oil on Friday fell by 1% to 611,79 $/t, which is the minimum the last 2 months.

In Ukraine, sunflower prices continued to decline under pressure from the strengthening of the hryvnia, and after the price of sunflower oil. For the week, refiners have lowered the price by 100-200 UAH/t to 10100-10300 UAH/t with delivery to the plant, however, producers sell sunflower seeds in small batches only as needed.

High rates of sowing of soybean and sunflower in Argentina amid falling world prices for vegetable oil continued to put pressure on the price of Argentinean sunflower oil, which last month fell to 20 $/t to 620-655 $/t FOB.