In Ukraine grow prices for soybeans
Followed global prices since the beginning of the week in Ukraine has risen in price, the soy, what increased the prices of GMO-soy.
the Purchase price of GM soybeans increased by 5-10 $/MT and are in the port 385-390 $/t or 12400-12500 UAH/t, while soybean non-GMO rose by 3-5 $/t and is trading in the port at 410-415 $/t or 12900-13000 UAH/t
the Main driver of growth in global prices is the drought in Argentina, where the soybean crop may be reduced, according to some, up to 48 million tons or even more, whereas the USDA estimated at 52 million tonnes against last year's 57 million tons.
In February and March, soy in Argentina is in a state of formation and pod filling, so the presence of precipitation at this point is very important.
In addition, for Brazil, where they had abundant precipitation forecasts soybean crop increased to 114-115 MMT vs. USDA's estimate at the level of 112 million tonnes and last year's 114 million tons.
Prices for soybean meal in Chicago, which for months has risen by 11% yesterday, fell 1.2 percent to 413 $/ton after the weekend in Argentina, the rain passed. Soybean futures fell to 379 $/ton, and soybean oil – up to 704 $/t
the Increase in experts Oil World forecast palm oil production in 2017/18 MG 4.4 million tons to a record 70.5 million tons greatly impacts on vegetable oil markets.
In Kuala Lumpur futures to palm oil yesterday fell 1.2% to 2485 Ringgits/t or 636 $/t
the Forecast of soybean crops in the United States, which will be released this week, will be an additional factor in the formation of prices for soybeans and the soybean complex in the near future.