Prices for soybeans and oil continue to fall
soybean Futures fall 8-th day in a row and has dropped to the lowest since September 9, after a trump statements about the restoration of the government of import duties on steel and aluminum from Argentina and Brazil through artificial lowering these countries rates of their currencies to stimulate exports.
Experts fear that another escalation of tariff war is directed against China, and the recent disputes between countries concerning the Hong Kong bill increase concern about the fate of the first part of the trade agreement, the signing of which is constantly delayed, although the American side does not exclude the possibility of signing until the end of the year.
soybean Futures in Chicago yesterday fell 1% to 321,6 $/t, and since the beginning of the month, the drop was 7%. Followed futures for soybean oil fell 1.5% to 668 $/ton, losing over a month of 4%.
Futures on palm oil in Malaysia fell yesterday by 0.4% to 653,6 $/t after the updates last week the two-year maximum on the background of the slowdown in exports, although in General remain at a high level.
According to the Agency Amspec, in November, Malaysia exported 1.53 million tons of palm oil, which is 7.4% lower than in October, while experts estimated ITS exports down 2.9% for the month.
the Decline in soybeans and the oil puts pressure on prices of demand for Ukrainian sunflower oil, which dropped for the week by 3-5 $/t 715-720 up to $/t
With delivery in January ukrasni oil offered on the basis of CIF India for 785 $/t, while the increased volume of proposals of the Russian sunflower oil for 775 $/t