Purchase prices for soybeans and sunflower seeds in Ukraine remain at a high level
Active harvesting and good yields of soybeans and sunflowers in Ukraine keep prices from falling seasonally, as prices for vegetable oils, especially palm oil, remain at high levels.
Palm oil prices reached 1 1,200 -1 1,250/ton and reduced the lag behind prices for soybean and black sea sunflower oil, which is offered at F 1,350-т 1,380/ton FOB, which increased demand for the latter from importers.
This week, the Egyptian state operator GASC will hold a tender for the purchase of 30 thousand tons of soybean and 10 thousand tons of imported sunflower oil, which will give the markets new price indicators.
Processors keep the purchase prices for sunflower with delivery to the plant at the level of 18800-19000 UAH/ton for oil 46-47% with a premium for the highest oil content. However, against the background of active deliveries, they began to lower prices.
Against the background of an increase in the supply of soybeans with GMOs, exporters lowered prices for it in ports to 5 500-510/ton or UAH 14900-15000/ton, while processors maintain prices at the level of UAH 16300-16700/ton.
Prices for non-GMO soybeans with high protein due to a shortage of supplies remain at a high level of 6 650-670/ton or UAH 19500-20000/ton with delivery to the port or border.
December soybean and oil futures at the Chicago SWOT rose again yesterday amid an increase in soybean exports from the United States for the week by 32% to 2.3 million tons, although since the beginning of the season it was only 5.8 million tons, which is 50% lower than last year's pace.
In Brazil, as of October 14, 22% of the area was sown with soybeans. Periodic rains promote sowing and germination, which will limit further price increases.
According to oil World forecasts, the volume of sunflower processing in the EU in 2021/22 MG may reach a record 9 million tons due to an increase in production to 10.5 million tons, which will reduce sunflower imports to a three – year low of 0.62 million tons.
