Prices for soybeans are falling, despite the growth of exports
the Export of soybeans from Ukraine in February and March of current year has made record for this period 344,8 thousand tons and 460 tons respectively.
Generally in September and March of the 2016/17 season, my Ukraine exported 2.36 million tons of soybeans, which is 51% higher than in the same period of the previous season.
In this season, the geography of exports has increased to 30 countries, and traditional buyers and increased volumes of purchases. Almost 70% of exports of Ukrainian soybeans accounted for Turkey, Egypt and Iran. EU countries buy 18% of the Ukrainian export of soybeans.
According to information of analysts of Oil World, the volume of world soybean exports continue to increase due to strong demand for the oilseed. In March of the current year's soybean exports from the main producing countries increased to 13.11 million tons, compared to 12.15 million tonnes in March 2016. Most soybeans in March acquired China – of 8.48 million tonnes against 7.71 million tonnes in March last year.
Despite rising export prices for soybeans on the Chicago stock exchange fell in January 385 $/t to 348 $/ton in April. Record harvests in South America has influenced not only the world quotations, but prices for soybeans in Ukraine, which has also fallen, but not so significantly.
currently, soybeans are trading for $380/ton or 11900-12000 UAH in the port and 11600-11900 UAH/t at the plant.