Jump of the prices for palm oil have supported the markets, soybean and sunflower oil

with the decline In production and increase in exports, despite the fall in oil prices, the January futures for palm oil exchange in Malaysia yesterday rose just 4.2% to 3066 Ringgits/t to 736,5 $/ton although in the past week they have increased in price by 3.4%.

According to the Association of palm oil South of the Peninsula (SPPOMA), for October 1-20, the production volume of the palm was reduced in comparison with the corresponding period of September for 10%, while exports grew by 4%, and aktiviziruyutsya in the 3rd decade. Reduction in the production of trees due to lack of rain and manpower through quarantine restrictions.

After palm oil soybean oil on the stock exchange in the U.S. has risen to 760 $/MT, although last week it was cheaper on the background of improving weather in Brazil and active collection of soybeans in the United States. Prices for soybeans in Chicago yesterday increased to 397,3 $/t on data on the increase in the weekly soybean exports from the U.S. by 15% to 2.66 million tonnes, of which 2 million tons purchased China. Since the beginning of the season, the United States exported 14.3 million tonnes of soybeans from the estimated 59.9 mln tons.

According to the USDA, as of October 25, soybeans in the U.S. collected on 83% of the area compared to 57% last year and 73% on average for 5 years at that date. Forecasted for the next 7 days of dry and warm weather will allow to finish harvesting soybeans with almost no losses.

Precipitation in Brazil has accelerated sowing soybean, and as of October 22, it is planted on 23% of the planned areas, in particular over the last week - and 5.6 million ha. during the week weather will boost planting, which will reduce pressure on prices.

the bid Prices for Ukrainian sunflower oil grew to 1000-1020 $/t, whereas the demand price made up 980-990 $/t. the Reduction of yield of sunflower in Ukraine is forcing refiners to raise the purchase price for as long as possible to ensure their own power raw materials, hoping that the price of oil will not fall below current levels.

But the Argentine soybean oil is offered at us $850/ton, and palm 800 $/t, and if their prices will not rise, then buyers are going to buy cheaper oil that will stop the rise in price of sunflower oil even with the shortage of sunflowers.