Sunflower prices have received support from the soybean market

Powerful precipitation in the United States last week increased the delay in harvesting of soybean. So, on October 14, the soybeans collected 38% (+6%) planned area, which is considerably lower than in last year 47% and the average 5-year level of 53%.

the Data of the October USDA report on soybean and delay harvesting became the impetus for the growth of prices for soybeans and oil in Chicago to 325 $/t and 655 $/t, respectively, while the forecast of dry and warm weather next week will put pressure on quotes.

the Growth of prices for soy oil may support prices of palm oil, which on the stock exchange in Kuala Lumpur after the fall has stabilized at a level of 2191 ringgit or 527 $/t

the slowdown in the palm oil exports will put pressure on the quotes in the short term.

Traders understand that the fall in the price of plant oil stopped, so the price is the demand for Ukrainian sunflower oil grew by $5/ton, up 660-665 $/t FOB-Black sea.

It kept purchasing prices for sunflower from further decline, and some processors even increased the purchase price by 50-100 UAH/t to V 10500 10100 UAH/t with delivery to the plant.

Export demand for Ukrainian soybeans remains low, and no noticeable competition for refiners, which are cautiously buying soybeans and prefer visakhapatanam beans than reduce the purchase price.

and Exporters offer in the port for soy GMO 340 $/t, and processors are willing to pay 10500-10600 UAH/t with delivery to the plant. However, most buys oil only from producers, so the mediators are practically not interested in soybeans on the market.