Soybean futures are down because of lower demand from China
the Lack of positive news from trade negotiations and a slowdown in purchases of U.S. soybeans by the Chinese state companies have caused the fall in the price of may futures on the stock exchange in Chicago for 1.5% to 325,5$/t
the previously announced purchase of 20 million tons of U.S. soybeans, is still not done about 5-6 million tonnes, but traders do not see the desire of Chinese state-owned companies to contract new volumes.
the Export of soybeans from Brazil in the second week of the month decreased by one third compared with the first to 2.02 million tons, but according to the analysts the total volume of exports in April may be at the level of April last year, about 10 million tons. Prices of Brazilian soy is now considered to be at the level of U.S. soybeans 345-346 $/t FOB, although last season was in excess of 60-80 $ /t
soybean Harvesting in Brazil carried out in 86% of squares, compared with 85% on average for 5 years, and another local Agency increased its forecast of soybean production in this season. Consultancy AgRural increased its forecast of soybean production in Brazil in the current year from the previously expected 112,9 million to 114.6 million tonnes, which is still less than the April estimates by the USDA.