The price of soybeans continued to rise
Yesterday in Chicago soybean futures rose to 383,9 $/ton and for soybean meal by $4/t to 422,5$/t. the supports prices due to cold weather delayed planting in the United States and increased purchases of U.S. soybeans by Argentina, which, according to the USDA, this week purchased 130 thousand tons of soybeans originated from the United States.
during the period 10-17 April, Argentina has purchased 360 ths tons of soybeans for 2018/19 MG, of which 240 thousand tons will be imported from the USA and 120 thousand tons from Brazil.
According to Oil World analysts (Germany), China sharply reduced imports of soybeans from the United States, with 4.2 million tons in February to 2.1 million tons in March 2018, but increased its imports of Brazilian soybeans from 1.8 million tons in February to 2.3 million tonnes in March. The total import of soybeans has increased from 5.4 million tons in February to 5.6 million tonnes in March.
Uncertainty about import duties on U.S. soybeans from China gives you the opportunity to earn additional profits of the Brazilian and Ukrainian farmers.
the Price of Ukrainian soybeans on the basis of CPT-port rose to 415-420 $/MT for soybeans with GMOs and 435-440 $/t for soybeans non-GMO.
At the same time, refiners have stepped up purchases of soybeans and often offer prices higher than can name exporters.