The forecast decline in production launched the price of soybeans up
Long-term rainfall in the United States delayed sowing of soybeans and corn, which can lead to a decrease in production of these crops.
As of may 26 soybeans planted in the US 29% of the planned areas in comparison to the average 5-year rate 66% and shoots were obtained on 11% in comparison with the average level of 35%.
On these data, the July soybean futures in Chicago rose by 7.8% to 324,5 $/ton, and soybean oil – by 3.8% to 610,2 $/t
Experts believe that uninoculated remain 2-3 million acres, whereas in the may report USDA of the sowing area of soybeans in 2019 was estimated at 84.6 million acres, compared to 89.2 million acres in 2018.
For the week, soybean exports from the US increased by 7% to 532,881 thousand tons, which is 8.3% lower than in the previous year. Of them of 272.8 thousand tons were sent to China.
After the price of soybeans quotes palm oil yesterday on the stock exchange in Malaysia increased by 2% to 2066 ringgit or 492,8 $/t
amid increased demand and supported the soy complex prices for Ukrainian sunflower oil grew by 3-5 $/t to 690-700 $/t FOB.
the August rapeseed futures in Paris rose by 4 €/t to 369,5 €/t or 412,5 $/t for November – 3,75 €/t to 372,25 €/t or of 415.5 $/ton against decrease of forecast harvest of rapeseed in the EU and rising prices for canola by 2.7% to 455 CAD/t or 337,1 $/ton, due to frosts in Canada that can damage seedlings.