The price of soybeans continued to rise due to the resumption of purchases by China

the Price of soybeans on the stock exchange in the United States continued to grow after the resumption of purchases by China, resulting in purchase prices in Ukraine since Monday has grown by 5-8%. Market, due to speculators growing neighbouring markets of wheat and corn, while pays no attention to strengthening the collection of soybeans in the United States and precipitation in Brazil and Argentina, which have improved the moisture content of the soil and accelerated North, and would have to reduce prices.

on Wednesday, the futures rose to 2.5-year high of 395 $/t on data acquired by China batch 500 thousand tons of soybeans for delivery in November and December.

As of October 8, the U.S. soybean collected on 75% of squares compared to 40% in 2019 and 58% on average for 5 years at that date. Next week the collection will be accelerated against the background of forecasts of precipitation and lowering temperatures in the Northern States.

Prices for soybean oil and meal yesterday also increased by 2% after prices of palm oil in Malaysia and the background of a possible reduction in exports from Argentina to the explosion of the dryer in one of the terminals of the port.

In Ukraine, purchasing prices for GM soy over a few days increased in ports 5-8% to 450-460 $/t or 15200-15500 UAH/t on the background of reducing the production and containment of sales producers. Refiners raised prices to 15000-15100 UAH/t with delivery to the plant. The premium for non-GMO soybeans dropped to $10-15 per ton, and the demand price with delivery to the port or border is 460-470 $/t

This week in Brazil and Argentina will be moderate and sometimes heavy rains. The rainy season started about a month later than the average for the 30 years, which reinforces doubts about the possible expansion of soybean sowing areas in South America, while production forecasts remain unchanged.