Soybean oil prices are falling despite the rise in oil prices and the results of the tender in Egypt

< span style="font-size:14px;">yesterday on the Chicago Stock Exchange, following the decline in soybean prices caused by profit-taking, soybean oil fell sharply, despite the growth in oil prices and the results of the tender in Egypt.

< span style="font-size:14px;">May soybean oil futures fell 4.5% to.1,454/ton, July – 2.3% to. 1,319/ton, December – 1.4% to. 1,108/ton amid accelerated sowing in the United States and profit-taking.

< span style="font-size:14px;">prices were not supported even by the results of the tender in Egypt, where GASC yesterday purchased 34 thousand tons of locally produced soybean oil and 30 thousand tons of imported soybean oil, and once again refused to purchase sunflower oil due to high offer prices.

as a result, it was purchased:< / span>< / p>

• < span style = " font-size: 14px;">34 thousand tons of Egyptian soybean oil delivered in June - July at a price of 19725 EGP/t or C 1255.5/t CFR, which is 3 30/T higher than the price of the previous auction in April,< / span> < / li>
• < span style="font-size:14px;" > 30 thousand tons of imported soybean oil delivered in June at a price of C 1263/ton CFR, which is 1 13/ton higher than the price of the previous purchase.

< span style="font-size:14px;">against the background of increased supply and lower demand from India, prices for Argentine soybean oil decreased to 1 1180-1200/ton FOB.

< span style="font-size:14px;">palm oil prices have not changed since the weekend in Malaysia.

< span style = "font-size:14px;" >on the Dalian exchange, palm oil futures rose 1% to 1 1,164/ton, while soybean futures fell 0.3% to 1 1,315/ton.< / span> < / p>

< span style="font-size:14px;" > in Ukraine, sunflower oil supply prices remain at a high level of F 1560-1580/ton FOB, but demand prices do not exceed F 1550/ton FOB, while forward prices for oil from the new crop increased to 1 1160-1200/ton FOB for deliveries in November.

< span style="font-size:14px;">markets remain under pressure from low demand and limited supply, so even a slight recovery in demand can lead to higher prices.