Quotes for soybeans and soybean oil increased by 5%, after falling the previous day

2021-04-01 12:02:33
Machine translation
Quotes for soybeans and soybean oil increased by 5%, after falling the previous day

After the publication of the USDA report on the area of sowing soybeans in 2021 yesterday on the Chicago stock exchange may soybean futures rose 5% to 527,3 $/ton, and soy oil to 1,163 $/t, after the fall of the week.


According to the report, acreage of soybeans in the United States compared to last year will grow by 5% to 87.6 million acres, while analysts predicted their level 89-90 million acres.


Stocks of soybeans in the U.S., as of March 1, according to a quarterly report by the USDA, was 42.5 million tonnes, which is 31% below last year's level and is almost in line with expectations of analysts 42.8 million t


Speculative rise in the price of soybeans and soybean oil in the United States did not significantly affect the prices of palm oil in Malaysia and China, which presses the decline in demand.


June futures for palm oil in Malaysia yesterday rose by 1.1% to 3612 ringgit/t or 871 $/t


On the stock exchange in Dalian futures palm oil yesterday fell by 2% to 1118 $/ton, and soy – 3.5% to 1273 $/t


In Ukraine, the purchase price of soybeans remain stable thanks to strong demand from processors and high prices demand for soybeans non-GMO by exporters.


Processors of soybeans GMO delivered to the plant offer 18000-18600 UAH/t depending on the protein, which corresponds to 560-580 $/t in the port, while exporters are not willing to pay more 525-530 $/t


But soy non-GMO high prices from exporters who offer her 630-645 $/t or 19700-20500 UAH/t at the port or border, while the processors pay for it 19000-19700 UAH/t with delivery to the plant.

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