The USDA predicts a reduction in production and ending stocks soybean
soybean Market remains under the influence problems with the soybean crop in South America.
In an April report, the experts, the USDA lowered the forecast of soybean production in Argentina compared with the March estimate by 7 million tonnes to 40 million tonnes, which corresponds to the forecasts of other analysts. Evaluation of soybean production for Brazil is raised by 2 million tonnes to 115 million tonnes, which are more pessimistic than projected other experts 115-119 million tons.
Reduced estimates for global soybean production in 2017/18 4 mln t and ending stocks at 3.8 million tonnes, the market was surprised that the may soybean futures rose yesterday by 0.7% to 391,5 $/t
the Drop in prices of palm oil in Kuala Lumpur to 2433 ringgit or 628 $/t pressure on the price of soy oil, which in Chicago is trading for 700 $/t
the uncertainty over the import of U.S. soybeans to China helps Brazilian farmers who actively sell for a premium oil prices. Forward sales of Brazilian soybeans new crop in early April, made up of 71.5% vs 63.3% at the end of April last year.
According to customs officials, in March Brazil exported of 8.81 million tons of soybeans, which yields to the figure of the previous year 8.98 million tonnes.