Improved weather in Argentina reduced the price of soybeans
Through the heavy rain, held in December and January in key growing areas of the Argentine soybeans, analysts Grain Exchange of Buenos Aires has reduced the forecast of the harvest of oilseeds to 53.5 million tons to 56 million tons in the season 2015/16. The floods damaged nearly 770 thousand hectares of soybean crops, but 400 thousand hectares have not been lost completely.
currently, the precipitation was replaced by dry weather, that the condition of the soybeans is improved.
Due to improved weather conditions in Argentina and the reduction in weekly export sales of soybeans compared to the previous week by 36% to 536,5 million tonnes, the price of U.S. soybeans on the stock exchange in Chicago yesterday fell more than 10 $/t to 387 us $/t to 375,52 $/t
the Price of Ukrainian soybeans stopped the growth 375-376 $/t on the basis of CPT-port.
the strengthening of the hryvnia on the interbank market allowed the domestic prices to stabilize, but on the elevators they have decreased by 100-200 UAH/t.
Now for soy offer:
- 11800-11900 UAH/t on the basis CPT-port,
- 11400-11700 UAH/t with delivery to the factory
- 11000-11300 UAH/t on inland elevators.