Prices for soybeans expected crop forecast from the USDA

2017-11-09 12:10:27
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Prices for soybeans expected crop forecast from the USDA

soybean Market, the growth of which I hope the traders, yet fundamental factors to maintain prices.

 

the increase in oil prices and further increases in prices for vegetable oils has raised hopes of traders for higher prices for soybeans. Soybean oil in Chicago for the week rose by 2% to 779 $/t due to the active demand from biodiesel manufacturers in the United States. Prices for soybeans at processors is higher than that of exporters.

 

Simultaneously with the increase in the price of soybean oil soybean processors in the United States see a drop in demand and prices for soybean meal, which for the month depreciated by 3%.

 

In Chicago January soybean futures came close to the psychological mark 9,999 $/bushel. If the experts USDA will reduce the harvest forecast of U.S. soybeans, the prices will move to new levels of resistance.

 

it is Likely that the forecast of soybean production in Brazil analysts USDA will be left unchanged, since the crop is quite active.

 

In Ukraine the prices in the port for soybeans with GMOs has increased in the $2-3/MT to the level 364-365 $/ton, while the price of GMO-free soybeans remained within 393-395 $/t Hryvnia prices declined slightly due to the strengthening of the hryvnia against the dollar from 26.9 to 26.6 UAH/$.