Processors in Ukraine are stepping up purchases of soybean and sunflower
Global prices for soybeans after skyrocketing in March, remains pending the outcome of the harvest in the southern hemisphere and the planting season in the Northern hemisphere.
Experts Oil World has lowered the forecast of world soybean production in 2017/18 MG to 338 million tonnes, 10.2 million tonnes lower than in the last season.
the most reduced production in Argentina, from 17.6 million tonnes, however, it partially offsets the increase in soybean production in Brazil by 2.4 million tons, the U.S. at 2.6 million tons, China-4.9 million tons in other countries.
on Monday, Chicago soybean futures lost 0.9% and fell to 378,7 $/ton, and soybean meal fell by $2/t to 414,14 $/t
Weekly soybean exports from the United States amounted to 470,8 thousand tons, which is 27.3% lower than in the same period last year, and total soybean exports this season amounted to 42.8 million tons, which is 12.5% less than was exported in the same date in the previous MG. U.S. soybean planted only 2% of the planned amount against 5% last year on the same date.
the Increase in oil prices above $ 75 $per barrel does not give significant support prices for vegetable oils.
the Price of soybeans and sunflower in Ukraine continue to grow, mainly through increased purchases by processors who are trying to build sufficient stocks of raw materials to the new season.
While the fight for the soy on the market is even sharper, and if the traders in the port offer soy non-GMO 13000-13300 UAH/t, and for soy GMO 12650-12850 UAH/t, the processors offer 12900-13200 UAH/t with delivery to the plant, and high protein are willing to pay up to 13,000 UAH/t with seats in spite of the presence of GMOs.
sunflower market aktiviziruyutsya competition between processors for available party oilseeds. Sunflower prices rose to 12300-12500 UAH/t with delivery to the plant, but in some cases, the processors pay 12300-12400 UAH/t on the farm.