Against the background of falling prices for palm oil quotation of soybean oil rose sharply

Last week on the palm oil market experienced a speculative growth and decrease in quotations, as it happened in the month of July and August. After a palm-tree, growing also the markets of other vegetable oils.

on Monday the leader of growth was soybean oil on the stock exchange in the United States rose by 2% to 710 $/MT amid hot weather in growing areas and possible degradation of crops, as well as optimism of traders caused by the resumption of negotiations between the US and China.

Output of the United States trade representative Leithauser and Minister of Finance Steven Mnuchin held a telephone conversation with Vice-Premier of the state Council of China Liu he, which agreed to create the conditions necessary for further implementation of the first part of the bargain.

Recall that President trump has accused China of crazy losses for the world economy, and in particular the United States, and announced the possible separation of the economies of the US and China, although she noted that "now is not willing to set fire to the world."

According to the weekly monitoring, which was published after the completion of trades, the number of soybeans in good or excellent condition for the week decreased by 3% to 69% (55% a year ago), although traders were expecting a worse situation.

November futures on palm oil exchange in Malaysia starting from Wednesday has already decreased by 2.8% to a two-week low of 2662 Ringgits/t or 637,91 $/t on data on exports in 20 days of August at 20% despite a projected 15%.

The price pressure decline on the Chinese stock exchange in Dalian futures, palm oil 2% and a slight decline in futures on soybean oil.

quotes rape seeds oil presses and an updated forecast of experts Coceral, in which the forecast harvest of rapeseed in the EU and UK have increased from 16.5 to 17 million tonnes due to increased production in Germany, Poland and the Baltic States.