Soybean futures rose to a two-week high

2019-01-03 12:31:19
Machine translation
Soybean futures rose to a two-week high

Caused by the news about the new purchase of U.S. soybeans Chinese state companies yesterday's rise in price of soybean futures was the largest in a month. Dry weather in Brazil reduces the chances of getting a record harvest and maintain costs.


March soybean futures increased by 1.65%, but later fell back to 332,7 $/t


the Market has warmed up, the information sent to the traders are Chinese state-owned company Sinograin requests to purchase U.S. soybeans for February-March.


However caused by the government shutdown the lack of data on weekly exports keeps market in limbo.


Brazil amid high demand from China in December exported 4.2 million tons of soybeans, which is 16.5% lower than in November, but 80% higher than in December 2017.


as a result of precipitation deficit, experts have reduced the forecast of soybean production in the country from 121 to 119 million tonnes, although last week in the Northern and Central regions the rains.


the Increase in oil prices and equities support markets of vegetable oils. Since the beginning of the year, palm oil rose by 2.1% to 523 $/ton, and soybean oil in Chicago 623,7 is trading at $/t

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