The forecast reduction of production and stocks supported the price of soybeans
According to the January forecast of the balance of the analysts of USDA, in 2016/17 MG world harvest soybeans to reach a record 337,85 million. This figure although it will be 150 thousand tons below the December forecast, however, by 24.35 million tons will exceed the results of the previous season.
For the United States production forecast reduced in December 118.7 million t up to 117.2 million tons against last year 106.86 million tons For Brazil and China forecast raised to 104 (102; 96,5) and 12.9 (12,5; 11,79) million tons respectively.
Evaluation world exports soybeans increased to 650 THD. MT to 139,9 million tons against last year's 132,18 million tons mainly due to Brazil, which export potential has increased from 58.4 to 59.5 million tons, while last season, the country has implemented 54.38 million T.
Ending inventory reduced from 82,85 to 82,32 million tons against last year's 77,19 million tons, in particular for Argentina from 32 to 31.8 million tonnes, which almost correspond to the period of 31.95 million tons, and the United States from 13.08 to 11.44 million tonnes, which is still considerably more than 5.35 million tons of the previous season. However, this figure increased for Brazil to 19.38 (18,48; 18,63) million tons and China to 14.86 (14,46; 16,91) million tonnes.
the Price of soybeans on Chicago stock exchange has increased after the publication of the report 370 to 384,43 $/ton.
The price of Ukrainian soybeans also rose to $368-370 delivery to the port after the year-end decline to $364-367.
Purchase price in local currency remains at the level of 11300-11500 UAH/t on the basis CPT-port, 10800-10900 UAH/t with delivery to the factories and 10700-10900 UAH/t on the domestic elevators.