The fall of the hryvnia supported the price of soybeans and sunflower

In Ukraine continues seasonal decline in prices for oilseeds, which this year is accompanied by a strengthening of the hryvnia against the dollar by 8-10% compared to last year.

At the beginning of the season at prices crushed expectations for a record crop of sunflower at 15.5 million tonnes, though experts USDA his estimate of 14.5 million tonnes, which is more realistic.

As of October 24 Ukraine from 5.6 million hectares or 95% of the area harvested 13.5 million tons of sunflower seeds with a yield of 2.43 t/ha (2,24 t/ha in 2018), and with 1.5 million hectares or 94% areas – 3.4 million tons of soybeans with a yield of 2.32 t/ha (2.55 t/ha in 2018).

Thanks to the growth of vegetable oil markets, halted the seasonal fall of prices for sunflower oil, which since September has fallen by 35-40 $/t of the maximum levels of the end of last season and is now 675-685 $/t FOB.

With the support of quotations for sunflower oil and the strengthening of the dollar on the interbank market from 24.4 to 25.1 UAH/$ the purchase prices for sunflower increased at the end of the week by 100-200 UAH/t to 8200-9400 UAH/t with delivery to the plant. The significant discrepancy in prices is due to different levels of demand from processors, some of which do not buy seeds for significant stocks of raw materials. The purchase price of the Franco-economy and Franco-Elevator are 8100-8500 UAH/t, depending on the region.

the Price of soybeans in Ukraine is gradually growing on the background of increased demand from exporters as a result of increasing world prices because of the uncertainty with the harvest in the United States. During the week the purchase price in the port increased by 3-5 $/t up to 330 to 335 $/t, while delivery to the plant it remained at the level of 8200-8700 UAH/t On the background of increasing demand for soybean farmers started to hold back sales in anticipation of further price growth due to the reduction of yield in the current season.

Prices for rapeseed continue to fall amid lower export demand. Only 2 traders planning to buy raps until mid-November, as from 1 January 2020 abolished the VAT refund when exporting canola for traders, so by the time you need to manage to export the acquired volume.