Falling prices for oil proceeds

the Decline in world oil prices continues to put pressure on the vegetable oil markets.

After falling to 58,54 $/barrel the price of Brent crude has recovered to a level of 60.3 $/barrel.

the price of palm oil in Malaysia on Monday dropped 3.6 percent to the lowest level 470,3 $/t than offset by growth in the last 10 days.

against the background of falling oil prices and doubts about the signing during the summit of G20 trade agreement between the US and China, which will resume exports of U.S. soybeans to China yesterday, in the Chicago soybean futures dropped 2.4% to 316,88 $/t, for soybean oil – by 2.4% to 603,6 $/t

Prices couldn't support even good soybean exports, which rose last week by 3.3% to 1.1 million tonnes, which is still 36% lower than in the corresponding week 2017 Total exports in the current season 32% inferior to last year's figure and represents about 44% of the USDA forecast compared to 68% at that date on average. After China's refusal of U.S. soybeans, traders found new markets by reducing the price.

Yesterday D. trump reiterated that in case of signing the agreement with China, the United States will impose additional import duties on Chinese goods worth 267 billion dollars and increase from 10% to 25% of the existing duties on Chinese goods worth $ 250 billion.

China imported in October of 6.53 million MT of Brazilian soybeans, which is twice last year's level, while U.S. soybeans were imported in the amount of only one vessel.

After palm and soybean oil prices of demand for Ukrainian sunflower oil fell to a new low 625-630 $/t for deliveries in December and 620-625 $/t for deliveries in January.

consequently, purchasing prices for sunflower for the week fell by RS 200-300/MT to 10000-10500 UAH/t with delivery to the plant or 9600-9700 UAH/t on the farm.

Prices for Ukrainian soybeans in the port is minimal 315-320 $/t Processors almost stopped buying soy because the have accumulated a significant amount of raw materials.