Prices for soybeans and oil in the U.S. rose sharply on the eve of the signing of the agreement with China

News about the details of signing a trade agreement between the US and China, trump confirmed on Twitter yesterday led to a sharp growth of prices for agricultural products on US exchanges.

soybean Futures rose 2.5% to 340,7 $/tand the quotation of soybean oil increased by 4.3% to their highest February level 727 $/t.

the Market for soybean oil supported the growth of prices for palm oil exchange in Malaysia by 0.5% to 695,29 $/t, as well as reducing stocks of soybean oil in China to the lowest since 2017 level of 1.01 million tonnes.

While the stocks of soybeans in China for the month rose by 390 thousand tons till maximum 6 weeks - of 4.48 million tons due to falling demand for soybean meal from consumers.

the Export of soybeans from the U.S. last week increased by 54% to 1.05 million t and exceeded the expectations of experts. At the same time, China reduced the purchase of soybeans compared to the previous week by 24% to 241,5 thousand tons Since the beginning of the season, the United States exported 26,99 million tons of soybeans, which is 540 kt is inferior to the corresponding period last year, while USDA for this season, predicted it at 48,31 million tons to reach the projected level of exporters to the end of 2019/20 Mr will need to implement the weekly average of 688 thousand tons, but increased demand from China will even surpass the plans.

the Rise in prices of palm and soybean oil continues to push up prices for Ukrainian sunflower oil bid prices which increased by 10 $/t to 755-760 $/t FOB for shipments in Q1, while demand increased to 745-750 $/t FOB.