In Ukraine there is a shortage offers of soybeans
On the domestic soybean market during the past week there was an insufficient number of proposals. Producers finished harvesting and are in no hurry to sell soybeans, waiting for higher prices. The main volumes are concentrated in the households, and because of the lack of free transport to the export ports is limited.
UkrAgroConsult estimates the harvest of soybeans in Ukraine in 2016 at the level of 4 mln tons, though not so long ago the forecasts were over optimistic and was 4.3 million. Increase in yield by 18% thanks to good weather conditions during the growing season plants can only partially compensate for the loss and reduction in acreage.
- Processors not too actively buying soybeans and offer 10500-10800 UAH/t with delivery to the plant.
- Traders offer 10500-10800 UAH/t on the elevators and 10900-11200 UAH/t with delivery to the port.
the Price of U.S. soybeans remains at the level of 370 $/ton. However, there is a possibility that it will drop after the publication on Wednesday of the forecast balance of the USDA, what will be the revised yield and total yield of soybean in the direction of increase.
experts Forecast USDA attaché about the increase of soybean production in the 2016/17 season, MG in Brazil to a record 101 million tonnes and subsequent export from the country of 57 million tonnes as a result of active demand from China will put pressure on prices, especially in the second half of MG.