Delay planting in the U.S. increases the price of soybeans

Due to the delay in sowing of soybean futures for the week rose by 9% to an annual maximum of 347,5 $/t

precipitation Forecasts in the Midwest USA was the main growth factor in soybean prices last week, after the publication of the report on crops on Monday rose by 3% to 343 $/t

Analysts were expecting on June 16, soybeans in the US will be getting 76-79% of the area. According to the USDA NASS report, on a specified date soybeans planted 77% of the planned areas, and shoots were obtained on 55% of the area compared to 93% and 84% respectively on average for 5 years.

the Greatest delay of sowing was observed in Ohio (46%), Michigan (53%), Missouri (57%), Indiana (64%), where else sown on 20 million acres or 8 million hectares of soybeans, which can greatly reduce the production of oilseeds. Even if the farmers have time this week to doceat area, the crops will have a low yield. But the predicted current week rainfall is unlikely to complete sowing.

the Export of soybeans from the U.S. for the week decreased by 6% to 675 thousand tons, which is 17.7% below the corresponding period last year. Party 275 thousand tons of soybeans were shipped to China.

Experts expect that in June, imports of soybeans by China will increase compared to may of 17% to 8.63 million tons, and in July to 9.5 million tonnes through increased exports from Argentina and Brazil.

the European Union in the current season increased imports of oilseeds by 5% to 18.6 million tons of soybean by 8% to 14.1 million tonnes, but imports of rapeseed decreased by 2% to 4 million tons.

the growth of the world prices for soybeans in the current season will change the structure of imports of oilseeds by the EU. The reduction in acreage would reduce the production of rapeseed, for which it imports, primarily from Ukraine and Canada, will rise to 4.8-5 million tonnes.