Prices for soybeans and sunflowers grow due to high demand

2020-02-11 12:08:37
Machine translation
Prices for soybeans and sunflowers grow due to high demand

Zakupiliprices for soy and sunflower in Ukraine is growing, despite a slight decline in prices for vegetable oil and the strengthening of the hryvnia. Processors are in no hurry to form raw materials, especially soybeans, on the eve of the start of the procurement of its exporters for the hryvnia.

 

Last week, the price of sunflower fell by 200-400 UAH/t, but after the growth of prices for sunflower oil up to 730-750 $/t FOB they recovered to 10300-10800 UAH/t with delivery to the plant.

 

the Law on "soy dressing" not yet signed by the President, however, refiners have raised the price of soybeans to 10000-10300 UAH/t with delivery to the plant compared to 9000-9500 UAH/t a month ago for a similar rate of hryvnia and higher export prices for soybean oil.

 

prices of palm and soybean oil resumed its fall as a result of lower demand driven by the proliferation of coronavirus.

 

the April futures for palm oil in Malaysia fell yesterday by 2.1% to 2754 ringgit/ton or 676,16 $/t, after rising last week by 8% due to a reduction in the production of palm oil in January compared with December by 12.6%.

 

Futures for soybean oil in the U.S. decline for a third consecutive day after the palm oil market yesterday fell 1% to of 685.8 $/t

 

with the markets pushing lower prices for Brent oil by 2% to 53.8 $/barrel, which is a 13-month low.

 

soybean Futures rose to to 325.7 $/t on the rumors about the recovery of demand from China, although the export of soybeans from the U.S. for the week decreased from 1.37 million tonnes to 603,8 million tonnes, of which China sent only 135,3 thousand tons.

 

According to the forecast Agency Agrural, Brazil will gather 123.9 million tons of soybeans, and now threshed 165 squares.

 

the Demand for the March supply of Brazilian soybeans from China remains high and supports the price level 345-350 $/t FOB Brazil, compared to 345 $/MT FOB US Gulf on the American and 375-380 $/MT FOB Ukrainian, that indicates a possible decrease in prices for Ukrainian soybeans in the near future as entering the markets of Brazilian soybeans new crop.

 

Egyptian GASC announced a tender to buy at least 3 thousand tons of soy and 2 thousand tons of sunflower oil with delivery in the period 25 March – 15 April, the results of which will be announced on Thursday.

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