The USDA again raised its estimate of soybean production in 2016/17 MG
In the April balance experts, the USDA increased the estimate of global production soybeans to 2016/17 MG in comparison with the previous report by 5.2 million tons to a record 345,9 million tonnes, 33 million tonnes will exceed the harvest 2015/16.
the Forecast of gross yield in Brazil increased by 3 million t to 111 million t (against 96.5 million tonnes the previous season), Argentina by 0.5 million tonnes to 56 million tonnes (compared to 56.8 million tons) and Paraguay 0.93 million tonnes to 10.1 million tonnes (against of 9.22 million tons).
Forecast world exports increased by 2.2 million tonnes to 143,3 million t (132,2 in 2015/16), in particular for Brazil by 0.9 million tonnes to 61.9 million tonnes (54,38) and Paraguay 0.8 million tonnes to 6.2 million tonnes (5,31).
World ending inventory will increase by 4.6 million tonnes to 87.4 million tonnes against 77,13 million tonnes last season. For Argentina, they will grow by 0.7 million tonnes to 30.4 million tonnes (31,95), Brazil – 1.8 million tons to 22.6 million tons (of 18.05), China – 1 million tonnes to 16.56 million t (16,91), United States of 0.28 million tonnes to 12.12 million tonnes (5,35).
Due to increased forecast of world consumption of soy quotations on Chicago stock exchange has increased from 348 $/MT to 350 $/t
In Ukraine, the price of soybeans remain constant, although the number of active buyers has diminished. Mostly declined the purchase of soy for the local, because, again, there were problems with the VAT refund.
Today, for soybeans offer of $380/t or 11900-12100 UAH/t, and 11600-11900 UAH/t with delivery to the plant.