Prices for soybeans in Chicago dropped to a 10-year low

2018-06-21 12:05:25
Machine translation
Prices for soybeans in Chicago dropped to a 10-year low

the July soybean futures in Chicago on Tuesday fell to a 10-year low of 309 $/t (8,41 $/bushel), and in the medium was stabilized at the level 324,45 $/t

 

price pressure tension in trade relations between the US and China, as well as favorable weather conditions with sufficient rainfall in the area of soy cultivation in the United States.

 

soybean Market is awaiting the outcome of negotiations between the US and China until July 6, after which China promises to introduce a duty on U.S. soybeans.

 

With China's growing demand for Brazilian soy, which leads to higher prices. According to the Agency Agrisensus the week award for Brazilian soybeans accounted for 60-75 $/t for the supply FOB Brazil in July-November, and the Argentine – 63 $/MT for deliveries in August.

 

this China at the auction for the sale of soy from state reserves 2013 harvest sold only 25.4% of the offered volume, which is indicative of mainly speculative demand in the futures market than actual demand.

 

the decrease in the price of soybeans weighs on prices for rapeseed on Euronext. However, due to lower forecast production in the EU and Australia, the prices are not only kept from falling, but rose yesterday by 2.25 €/t to 349,25 €/t or 404,35 $/t

 

In Ukraine, purchasing prices for rape in the port remain at 390-392 $/t or 12100-12300 UAH/t