High demand for soybean and sunflower supports procurement prices in Ukraine

2020-11-03 12:02:35
Machine translation
High demand for soybean and sunflower supports procurement prices in Ukraine

the Decline in world oil prices and vegetable oil has not affected the prices paid for soybean and sunflower in Ukraine, which on the background of reduced production remain at a record high.

 

As of October 29, Ukraine harvested:

the

soya 2.3 million tons from 1.1 million hectares or 85% of the area with a yield of 2.09 t/ha.

  • sunflower 11.9 million tons from 6 million hectares or 94% of the areas with the yield of 1.99 t/ha,

 

Data collection confirm pessimistic forecasts, which sunflower seed production compared to last year will be reduced by 3 million tonnes to 13 million tonnes and soy by 1 million tonnes to 2.8 million tonnes.

 

Processors offer sunflower 15700-16300 UAH/t and soya 15600-16000 UAH/t with delivery to the plant, whereas the exporters have raised prices in the ports and at the border until 470-475 $/t or 15800-16200 UAH/MT for soybeans with GMOs and 475-485 $/t or 16200-16400 UAH/t for soya without GMO. Prices, supports the reduction of the hryvnia against the dollar to 28,5-28,6 UAH/S.

 

Prices demand for Ukrainian sunflower oil will remain at the level of 960-980 $/MT FOB, while prices rose to 1000-1020 $/t due to the price hike of raw materials.

 

the Price of soybeans on the stock exchange in the U.S. last week fell by 2.8% to 388 $/t in the absence of purchases from China.

 

As of November 1, U.S. soybean collected on 87% of areas, compared with 83% on average for 5 years. Soybean exports for the week decreased by 36% to 2.08 million tonnes, of which 72% was sent to China under previous contracts.

 

In Brazil, the recent precipitation accelerated the sowing of soybean. According to Agrural, as of October 29 soybeans planted 42% of the planned area, which corresponds to the average pace of planting. Dry weather next week and predicted further rains will further accelerate sowing soybean in the country.

 

the Forecast of soybean production in Brazil in the current season remains at a record level of 133-133. 5 million tons, so China reduced the purchase of soybeans in the United States, hoping for a recovery in January purchases of Brazilian soybeans at competitive prices.

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