Despite the increase of supply prices for soybeans remain stable
the Rate of harvest of soybeans in the U.S. increased to the annual level. Now the crop is harvested with 70% of the area. The increased volume of proposals in conjunction with the improving weather in Brazil, where it continues North soybeans, putting pressure on the soybean quotation in Chicago. However, that steady downward trend is not fixed, and the November futures remain at 365 $/t
on Monday, China's domestic prices for soybeans dropped to a 1.5 year low. Traders fear that the government may further reduce prices or even stop the purchase of soybeans.
Preliminary results of the harvesting campaign indicate that Chinese farmers will collect the biggest over the past 6 years the soybean crop. Public procurement the operator Sinograin said that his silos filled with soybeans.
In early October, the government started to buy new crop soybeans to update the strategic reserves in the framework of the state program to support the quality of the grain and protect domestic producers.
In Ukraine, 78% of the area harvested of 2.92 million tonnes of soybeans with a yield of 1.87 t/ha, which is inferior to last year's figure. Despite good demand for soybean producers do not hurry to sell grain because we hope for further price growth amid falling yields.
Traders in the port offer soy non-GMO 385-393 $/t or 12300 UAH/t, soybean GMO 358-363 $/t or 11300 UAH/t Processors with delivery to the plant offer 11000 UAH/t, but are willing to pay an additional premium for beans with high protein content.