Prices for soybeans in Chicago reduced

2018-05-08 12:09:32
Machine translation
Prices for soybeans in Chicago reduced

the July soybean futures Monday in Chicago fell from 2.2% to 372,4 $/t for the lack of progress in talks between the US and China regarding the introduction to the latest import duties for soybeans.

 

in addition, prices under pressure the low-volume weekly exports and the intensification of the planting of soybeans for the new crop.

 

For the week, soybean exports from the US declined by 22.89% to 533,667 thousand tons.

 

According to the USDA, soybeans already planted 15% of the planned area, which is 2% higher than the average 5-year rate, while the corn crops 5% behind the average level. Traders believe that due to completion of optimum terms of sowing of maize, farmers to reduce their crops and prefer soy.

 

the Market expects is scheduled for Thursday the publication of the report USDA's first forecast of production of grains and oilseeds in 2018/19 Mr.

 

In Argentina, soybeans are collected at 61,85 space, which exceeds the annual average, however heavy rainfall can slow down the collection.

 

In Ukraine, the demand for soybeans remains high. Especially intensified the purchase of soybeans, domestic processors due to the increase in the price of soybean meal. Most exporters have already implemented their programs, so do not rush to raise rates, and offer in the port for soy GMO 415-420 $/t or 12900-13000 UAH/t, and the soy non-GMO 435-440 $/t or 13400-13600 UAH/t

 

Processors raised the price of soybeans to 13000-13600 UAH/t regardless of the presence of GMOs, however, require the minimum protein level 36-36,5%, and some offer extra rewards for high protein.