The price of canola drops following soybeans

2017-05-19 12:37:27
The price of canola drops following soybeans

the collapse of the financial markets led to falling prices on commodity exchanges U.S. average of 1-2%.

 

More pressure on prices accelerate the pace of the sowing campaign and the improvement of agro-climatic conditions in the United States.

 

Prices for U.S. soybeans dropped from 354 $/t to 349 $/ton, and soybean oil fell by 730 $/ton to 717 $/t

 

political scandal in Brazil, the President who is suspected of receiving a bribe, led to the depreciation of the real during the day from 7%. This will enhance the advantage of Brazilian soybeans to the us on world markets. Manufacturers will increasingly sell recently harvested because of higher domestic prices.

 

European markets also reacted to the fall of American stock exchanges.

 

On Euronext on Thursday, the price of rape decreased from 366 € /t to 359,75 € /t or 399,75 $/t

 

because of the decline In European quotes Ukrainian traders lowered the forward prices of rapeseed for $400/ton to 391-393 $/ton for shipments in July-August.

 

remain Unchanged procurement prices for rapeseed in Belarus. First of all, due to the lack of oilseeds offers from local producers and because of the low profitability of processing imported raw materials, has a high cost.

 

this is a rates demand from processors for rape since February, remain unchanged and are 390-415 $/t (or 800-830 Br/t) on CPT basis.