South American soybeans weighs on the markets of oil
According to forecasts of analysts of Oil World, in March 2017 countries of South America export of 10.72 million tons of soybean against of 9.54 million tons in March 2016.
Brazil will increase exports of soybeans from 8.37 to 9.3 million tons, other countries are also stepping up the supply of soybeans to foreign markets.
in General, within three months of 2017 countries of South America export 16.72 mln tonnes as opposed to 13.63 million tonnes in the same period last year. For the period Brazil will increase soybean exports from 10.81 to 13.72 million tons, Paraguay – from 2.46 to 2.48 million tons, Argentina – from 0.08 to 0.32 million tons.
According to experts of Oil World, soybean crop in Brazil to 2017 will exceed last year's figure in 95,43 million tonnes and will reach a record $ 108.5 million tons. Accordingly, exports of soybean will increase by 9.8 million tons to 61.4 million tons.
According to AgRural, as of March 27, in Brazil threshed 68% of area under soybean, which is 1% higher than the annual average.
experts of the Grain exchange Buenos Aires, thanks to the improvement of productivity has increased the previous forecast of soybean production in Argentina in 2016/17 MG from 54.8 to 56.5 million tons.
In Chicago soybeans fell by 3 $/t and is trading at 354,75 $/ton. Traders expect tomorrow's USDA report the acreage will be increased to 88.5 million acres.
In Ukraine, prices for soybeans dropped to 380 $/ton or 11800-11900 UAH/t, however, for GMO-free soybeans remain at the level of 390 $/ton or 12,500 UAH/t at the port. Refiners increased the price of purchasing the plant to 11800-11900 UAH/t and offer an additional premium in the amount of 1% of the price for excess protein content of 37% dry substance.