Ukrainian soybean price still on the rise thanks to South America
UkrAgroConsult
Article authors:
This season 2020/21, the soybean market in Ukraine gets support from the global oilseed complex as the latter faces, in particular, the exhaustion of soybean stocks in the main countries-exporters, UkrAgroConsult reports.
The weather factor and reports about more and more strikes in South America also make the market feel nervous. Nearby soybean futures price in Chicago remains at a six-year high.
Moreover, there are also a number of internal factors influencing current developments and determining the outlook for the latter half of the season in Ukraine.
The most weighty factor, which sets the tone for the entire season, is a harvest decline (-32% from last year) because of reduced acreage and low yield due to a hot, dry summer.
Domestic soybean prices similarly hit highs not only due to competition between exporters and crushers, but also, to a substantial degree, because growers are persistently reluctant to sell the commodity.
Full version of the article is available to subscribers for Online Analytics “Black Sea Vegoils” in the new innovative tool for agri market participants – AgriSupp by UkrAgroConsult. Subscribe to a 7-day free trial!!
Start using analytical data and increase your efficiency now!
Register to get your demo access: http://agrisupp.com/en/register/1
Read also
Black Sea & Danube Region: Key Issues Affecting Oilseed and Vegoil Market Dev...
Tunisia bought 75 thsd tonnes of wheat
Indonesia raised the benchmark price of CPO in November
Precipitation in Argentina and Brazil improves soybean and corn crop prospects
Ukrainian farmers harvested 66.7 mln tons of grains and oilseeds
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon