Prices for soybeans continue to decline

2018-06-08 12:19:27
Machine translation
Prices for soybeans continue to decline

Yesterday, soybean futures in Chicago fell by 3% to 357$/t, which is the minimum value of 4.5 in recent months.

 

the Reasons for the decline remain uncertain intentions of the United States to publish on 15 June, the list of goods that fall under import duty and excellent condition of soybean crops in the United States.

 

According to the official representative of the Ministry of Commerce of China Gao Feng, China intends to fulfill all the agreements that were reached at negotiations on may 17-18 in the United States and 2-4 June in China, including the increase in purchases of agricultural products from the USA 70 billion dollars a year.

 

the Ministry of Commerce signed an agreement with Chinese telecommunication company ZTE under which the latter will be able to work with American suppliers in case you pay the fine of 1 billion $ U.S. government sidepony 400 million $ on a separate account to be debited in case of repeated violations of the laws of the United States, and will change the composition of the Board of Directors within 30 days.

 

These actions indicate that the agreements began to be implemented.

 

the Decline in soybean prices in the global market through increased exports of Brazilian soybeans, which fell due to a sharp depreciation of the Brazilian real by 20% in two months.

 

the price of vegetable oil continue to fall because of lower demand. Palm oil since the beginning of summer lost 2.17 per cent and trading at 2387 ringgit or 600 $/ton, soybean oil in Chicago fell by 3% to 671 $/t

 

a Decline in prices for palm and soy oil led to falling prices for Ukrainian sunflower oil to 725-730 $/t FOB.

 

Export demand for Ukrainian soy is very low, and processors reduce purchase prices due to the falling prices for oil and meal. The purchase price for soybeans delivered to the plant for the week decreased to 400-500 UAH/t and is now 12800-13000 UAH/t