Precipitation in South America, lower prices for soybeans and oil

2020-12-01 12:03:33
Machine translation
Precipitation in South America, lower prices for soybeans and oil

Improved weather in South America by a decline in export sales of soybeans from the United States led to lower market prices for soybeans and oil.

 

the Rains that fell in Argentina last week improved the moisture of the soil and accelerated the pace of planting. According to Grain exchange Buenos Aires, now the country's soy planted is 39.3% planned to 17.2 million hectares, sunflower – 99,2% of the planned 1.4 million ha. precipitation Deficit remains a major cause of delay of sowing, but next week is not expected.

 

In Brazil, according to Agrural, soybeans planted 87% of the planned areas, and in the major States-producers of Mato Grosso and paraná crops completed. Last week in the southern regions the rains, which made it possible to accelerate North, and over the next 7-10 days will be heavy rainfall in all regions of soybean production, which will improve the condition of crops and accelerate their development.

 

Yesterday, the January soybean futures on the stock exchange in the United States decreased from 8.5% to 430,5 $/ton, and the quotation of soybean oil fell 2.3% to 6-week low 831,5 $/t

 

the Cause of the fall was the improvement of weather in South America and the reduction in export sales of soybeans from the U.S. last week by 42% to its lowest in the season level 768 thousand tonnes (of which 578 t acquired China) with the expectations of experts in the range from 0.7 to 1.4 million tonnes, exports of soybeans from the U.S. last week decreased by 9% to 2 million tonnes, of which China shipped 81%. For the three months of the current season, the United States exported of 26.68 million tons of soybeans, 65% higher than the corresponding figure last year and represents 45% of the export forecast for the season.

 

Reduction in demand for U.S. soybeans from China due to rising inventory and lower throughput volumes as a result of low margins and falling demand for products due to high prices.

 

Fall in soybean prices in the US lowers the prices in Ukraine. Exporters in the week lowered the purchase price in the port is 15-20 $/t to 490-500 $/t or 16900-17400 UAH/MT for soybeans with GMOs, but are willing to pay a premium for non-GMO soybeans with high protein. The processors on the background of the shortage of raw materials in a hurry to make as large reserves, therefore keep prices level 17000-17600 UAH/t, depending on the region.

 

the soybean crop in Ukraine will amount to 2.7 million tons compared to 3.7 million tonnes in the previous season. In the case of active export processors may again face a shortage of raw materials, therefore for feed production will be forced at the end of the season to import soybeans.

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