The reduction of soybean crop in Argentina supports the price of Ukrainian soybeans
Analysts of the Grain exchange Buenos Aires reduced the estimate of acreage under soybean in Argentina in the season 2016/17 MG 0.1 million hectares to 19.2 million hectares, which is inferior to the previous season on 0.9 million ha. At the same time, the Ministry of agriculture of the country has reduced the preliminary estimate of acreage by 0.5 million hectares to 19.8 million hectares.
forecast Adjustments caused by heavy rainfall that for a long time in Argentina. Estimated exchange experts, approximately 0.77 million hectares of agricultural land there is an excess of moisture.
Assessment of soybean production experts grain exchange Rosario reduced by 1.5 million tons to 52.9 million tons, as 710 thousand hectares with crops of oil was lost due to the floods in the North of the province of Buenos Aires and southern Santa Fe, and 300 thousand hectares were affected due to drought in the South of Buenos Aires.
the Reduction in soybean production in Argentina caused an increase in the price of us soybeans and supported oilseed prices in Ukraine.
last week, the domestic price of soybeans on the basis of CPT-Black sea ports have increased by 3-5 dollars to the level 370-373 $/ton. For fast delivery or product non-GMO, it was possible to obtain the additional premium.
the Growth of foreign currency rates against the background of hryvnia devaluation led to an increase of UAH prices on 200-400 UAH/ton.
Now for soy offer:
- 11500-11900 UAH/t with delivery to the port,
- 11400-11500 UAH/t with delivery to the factory
- 11000-11200 UAH/t on linear elevators.