Continue to grow the world prices for oilseeds
Yesterday, the soybean market experienced significant growth. It is caused by deteriorating weather conditions in Argentina. For several weeks there are heavy rains, which delayed the progress of the harvest and degrade the quality of the new crop. If you recently likely soybean production in the new season was estimated at 60 million tons, but now experts hope that the harvest will exceed 55 million.
the Situation on the soybean market became a factor supporting the markets of other oilseeds, especially rapeseed. In addition, increased prices for soybean meal. On svot it from the beginning of April went up by 50 %.
At the Paris MATIF for may 26, August contracts for rapeseed increased by 0.75 euros to 374,25 Euro/tone or 418,5 $/ton.
Continue to increase the price of soybeans in Ukraine. Now they have reached 375-385 $/ton or 10850-10900 USD/ton on basis CPT-port, and 10400-10450 UAH/t on EXW ex-Elevator. As part of seaports in June, plans to suspend acceptance of products in preparation for the new season, traders are actively buying soybeans, creating the necessary reserves. In June, a possible decline of activity of buyers of domestic soybeans.