Prices for soybeans and wheat resumed growth after the vegetable oil markets

2021-01-05 12:07:05
Machine translation
Prices for soybeans and wheat resumed growth after the vegetable oil markets

the price of vegetable oil last week has again updated the records, which led to an increase in purchase prices for soybean and sunflower in Ukraine.

 

new year's Eve futures, soybean and palm oil rose to a 10-year high, due to which sunflower oil has risen to 1220-1250 $/t FOB. However, yesterday at the auction prices fell slightly as traders were taking profits after the previous growth factors and the speculative demand is now available.

 

in the morning, After rising by 3.7% on news of a partial continuation of the strike in ports of Argentina, futures for soybean oil at the end of trading fell to 938 $/ton (closing price December 31) following the fall in oil prices 1%.

 

Futures on palm oil exchange in Malaysia in two weeks grew by 9.3% to 10-year high of 3724 Ringgits/t or 929,95 $/t despite the reduction of production and export growth in December.

 

According to the Association SPPOMA in December palm oil production in Malaysia has decreased in comparison with November by 10.5%, while exports, according to the surveyors, grew up at 14-14%.

 

On the stock exchange in Dalian quotes for palm and soybean oil rose 1.2% to 1087 $/t and 1235 $/ton, respectively.

 

In Ukraine yesterday bid prices of sunflower oil exceeds 1250 $/MT FOB, but due to the low activity of buyers, the bid price did not exceed 1200-1220 $/t FOB.

 

Rise in price of sunflower oil forced refiners to raise purchasing prices for sunflower in 20300-20500 UAH/t with delivery to the plant, however, the producers went on vacation until 11 December, so sales are sluggish.

 

the Purchase price for soybeans in Ukraine is growing due to high demand from recyclers, who for soy GMOs delivered to the plant offer 16700-16900 UAH/t (equivalent to 490-510 $/t at the port), while exporters in the port offer 480-490 $/MT for soybeans with GMOs and 520-530 $/t for non-GMO soybeans with high protein, or 550-555 $/t at the border with Poland and Belarus.

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