Prices for soybeans maintains an active export and higher prices of vegetable oils

the January soybean futures in Chicago started the week rising to 344,8 $/t on data on weekly exports and higher prices of soybean oil. The promotion of trade negotiations between the US and China and plans to sign the first part of the deal in Iowa in November support quotes.

According to the USDA, for the week, soybean exports from the U.S. decreased from 1.57 to 1.48 million tonnes, but shipments to China grew by 40% to 752 thousand tonnes, and in General, in the new season are already sold 9.55 million tons of soybeans.

on September 1, China has imported 6.19 million tons of soybeans from USA, which is almost 6.5 times higher than the comparable period in 2018, but still inferior 15,97 million tons that were imported in 2017 before the conflict between the two countries.

From November to January, China needs to buy monthly 5-6 million tons of soybeans, so the government can allocate more quotas to import 10 million tonnes of beans from the United States, as the proposals of Brazilian soybeans are reduced.

In October, Brazil shipped to China to 4.39 million tons of soybeans, accounting for 90% of total exports for the month, and since the beginning of the year for 53.47 million tons or 76.7 percent of total exports of the country. For 10 months of 2018 China acquired of 60.11 million tons of soybeans from Brazil, which accounted for 80.6% of exports.

Despite the precipitation in the United States, farmers reduce the backlog in cleaning soybeans. As of November 3 it was collected on 75% of squares, compared with 81% last year and 87% average over 5 years.

Experts Informa increased its forecast of soybean yield in the United States from 46.5 to 47 bushels/acre due to improved weather conditions.

After the rise in price of palm oil in Malaysia December futures for soybean oil in Chicago yesterday rose 4% to 700,85 $/t

an Increase in supply of soybeans new crop pressuring prices, and promote the planting in Brazil due to increased precipitation reduces anxiety about the fate of future crops. According to Agrural, soybeans planted 46% of the planned area, which is lower than the level last year, but higher than the average 5-year rate of 43%.

After the drought in September and early October in all regions of Brazil the rain passed, which accelerated sowing soybean. However, delay planting of soybeans will delay the planting of corn, which is sown in the spring after the harvest of soybeans, which will impact the corn crop in Brazil next year.