Prices for soybean oil and beans on the stock exchange in the United States the continued rapid growth
On the markets of oil the excitement continues, and every day some kind of goods begins to go up rapidly pulling prices for other commodities of the oilseeds group.
the Leader of the rising prices the last two weeks have been the sunflower oil in Ukraine, which in 3 weeks has risen by 15-20% to 1000-1050 $/t FOB.
Quotations of palm oil exchange in Malaysia in August actively growing expectations of reduced production and increased exports, which in the end did not materialize. Due to the sharp rise of the prices of palm oil exports from Malaysia in August declined by 11%, while production grew by 2%.
in the last week of palm oil prices on the stock exchange in Malaysia rose by 5.8% to 2975 Ringgits/t or 719,12 $/ton amid higher oil prices and enhance procurement from China.
Malaysia gradually restores the production of palm oil for September 1-10, it is 8.8% higher than the corresponding figure for August.
Yesterday the leader of price growth became soy oil and beans in the US, which rose in price amid strong purchases by China and with the support of the oil market.
November futures for Brent crude oil rose yesterday by 3% to 43.5 $/barrel and WTI by 2.3% to 41,13 $/barrel, rising with the beginning of the week by 10%.
OPEC+ advanced to the parties that violated the agreement to reduce production, requirements to reduce production in September and October by 2.3 million barrels/day.
quotation of soybean oil rose yesterday by 1.2% to 781,3 $/ton after prices for soybeans rose by 2.9% to 382,3 $/t on data on weekly export sales of soybeans from the U.S. at the level of 2.52 million MT, including 1.5 million tons purchased China. Overall sales of new crop soybeans from the U.S. has reached a record 32.3 million tonnes, which is 50% higher than the average 5-year and increased 33% - the previous record for this period in 2016.
in the Near future, China will continue to buy soybeans, which will support prices at a high level.
