Prices for soybeans and sunflower growing in the world with the decline of the crop

amid the recovery in world prices for oilseeds in Ukraine continue to grow, prices for soybeans and sunflower, which reached highs because of a reduced harvest.

As of September 27, Ukraine harvested:

the

2,03 million tons of soybeans, with 75% of the area or 1.01 million hectares with a yield of 2.01 t/ha.

• 11.4 million tons of sunflower seeds with 91% of the area, or 5.8 million hectares with a yield of 1.97 t/ha,

On this date in 2019, with 94% of the area, or 5.5 million hectares were collected 13.3 million tons of sunflower seeds with a yield of 2.43 t/ha and with 90% of the area, or 1.4 million hectares were collected 3.3 million tonnes of soybeans with a yield of 2.33 t/ha.

According to experts, in the current season sunflower crop in Ukraine will decrease by 3 million tons, soybeans – at 1-1,5 million t. Therefore, traders and processors dramatically stepped up the purchase of oilseeds, the prices of which since the beginning of the season increased after global prices of soybeans and sunflower oil. Now, despite a slight decline in prices for sunflower oil, refiners are actively purchasing sunflower at high prices to amass required for processing the volume.

Refiners have raised the prices for sunflower in 15700-16300 UAH/t and soya to 15400-15500 UAH/t with delivery to the plant, which exceeds the rates exporter, which last week raised their in port before 460-465 $/t or 15400-15500 UAH/MT for soybeans with GMOs and 465-475 $/t or 15500-15700 UAH/t for soybeans non-GMO.

Prices for Ukrainian sunflower oil will remain at the level of 960-980 $/MT FOB and at 140-150 $/t higher price than Argentine, and American soybean oil and 200-250 $/t palm oil prices.

the Price of soybeans on the stock exchange in the United States rose to 398 $/ton amid strong purchases from China. Since the beginning of the season, the United States exported 45,349 million tons of soybeans, which is 48% higher than the previous season. One third of the specified amount purchased China, which has stepped up purchases of soybeans from the United States to a 7-year high.

the price of soybean oil on the stock exchange in the United States rose to 757 $/ton amid a sharp rise in price of palm oil, the price of which on the stock exchange in Malaysia for the week rose by 3.4% to 2942 Ringgits/t or 707 $/t