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After a speculative rise in oil prices last week by 5%, quotes fell 2.5% yesterday on data on the recovery of oil inventories in the US, which led to lower prices of palm and soybean oil.   According to the EIA weekly report, during January 20-26, crude oil production in the US increased by 5.7% compared to the previous week to 13 million barrels/day, which is very slightly inferior to the record 13.3 million barrels/day. Crude oil inventories rose by 1.23 million barrels, 5.1% lower...

From June 21, 2023, the US Department of Agriculture allowed the sale of artificially grown meat, namely chicken meat obtained in a laboratory bioreactor using stem cells. Before that, the sale of such products was allowed only in Singapore.   So far, artificial meat cannot compete with natural meat, as it has a very high cost, but researchers are working on reducing the cost of production.   According to NEW SCIENTIST, scientists managed to obtain artificial meat from...

The European Commission proposed to extend the cancellation of quotas and import duties for the supply of Ukrainian products to the EU for another year, but at the same time to strengthen the protection of sensitive agricultural products of its own production, the press service of the agency reported yesterday.   "This proposal is based on the EU's commitment to support Ukraine within the required period. The autonomous trade measures (ATM), introduced since June 2022, are a...

Soybean oil and soybean meal futures on China's Dalian exchange fell for three straight sessions amid weaker demand and increased supply from South America.   On Tuesday, May soybean oil contracts fell 3.8% to a 7-month low of 7,204 yuan/t, or $1,003.79/t, the biggest one-day decline in a year.   Soybean meal futures fell to RMB 2,944/t, or $410.21/t, the lowest level since July 2023.   The demand for these products is decreasing, as the Chinese have already...

The weighted average purchase price of grains and oilseeds in Ukraine on CPT terminals, EXW elevators, CPT processors, FCA, CPT dollar, FOB, DAF, CIF Purchase prices in Ukraine  CPT terminal, UAH EXW elevators, UAH CPT processor, UAH FCA, UAH CPT terminal, $ FOB, $ DAF, $ CIF, $ Wheat mill offals 2650 Peas 9500 10300 230 Rye 5000 Corn 6303 ↑ 3 4930 ↓ 21 4442 ↓ 66 148 ↓ 1 170 144 ↓ 2 201 ↓ 4 Flax...

Global wheat prices have been depressed for a long time under pressure from weak demand and favorable weather for winter wheat crops in the Northern Hemisphere, as well as rainfall in India and Australia. But yesterday, the stock market saw a speculative rise in quotations, as traders do not expect further price declines, especially given the heat in Argentina.   According to the US MSG, the number of winter wheat crops in good or excellent condition increased compared to the end of...

Very dry weather in Argentina at the end of January is increasingly worrying traders as it could negatively affect soybean production.   In Brazil, during January 21-27, the trend of precipitation distribution changed: in the south, it was less than usual, and in the north of the state of Mato Grosso, it was more. According to WeatherTrends360, the last week of January in Rio Grande do Sul was the coldest and fifth driest in the last 30 years. But thanks to the decrease in...

The Agrarian Committee of the Verkhovna Rada of Ukraine supported for consideration in the second reading the draft law No. 9627 on simplifying the procedures for changing the purpose of land from agricultural to industrial.   According to the authors, the simplification of procedures will allow to reduce the time for changing the purpose of land from the moment of submitting an application to its approval from 1-3 years to 1.5 months, which will become relevant in the period of...