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World market of oilseeds: trends of the week
The nearest future to 23.03.2018 declined by 7.81 USD to 377,81 USD. The main pressure on the soybean market had a number of factors: the worsening of relations between the US and China, the increase in forecast estimates the acreage of soy (at the expense of corn), and relatively low results of export week. Thus, the results of the reporting week, the export of soybean amounted to 759,094 thousand tons, which was at the lower limit of market expectations (market forecast was 700 thousand tons -1,4 million tons)
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The nearest future to 23.03.2018 declined by 7.81 USD to 377,81 USD. The main pressure on the soybean market had a number of factors: the worsening of relations between the US and China, the increase in forecast estimates the acreage of soy (at the expense of corn), and relatively low results of export week. Thus, the results of the reporting week, the export of soybean amounted to 759,094 thousand tons, which was at the lower limit of market expectations (market forecast was 700 thousand tons -1,4 million tons). The drop in export sales was 40.2% compared to last week. Sales of soybean meal totaled 194,619 kt (while waiting for the market to 100-300 thousand tons) and soybean oil – 36,504 thousand tons (while waiting for the market 20 – 50 thousand tons). The reduction in soybean exports was expected by the traders a long time ago and it is due largely to the cooling of relations between the US and China. Fairly stable in the past trade relations between countries marred for a long time. Chinese companies are actively working on the issue of replacement of U.S. soybeans as alternative crops (rapeseed meal) and strengthening of trade relations with Argentina and Brazil. Soybean harvesting in Brazil has accelerated and have already completed 65% of plan (+17%), almost caught up with last year's figures. In many States in Brazil cleaning is almost complete (Mato Grosso , Goias). Forecasts soybean crop for Argentina, in turn, is continuing to decline, thereby fueling the market. So, the estimate of soybean production experts exchange Buenos Aires was reduced to 39.5 million tonnes (2.5 million tonnes below the previous forecast). The reason for this modification were continuing drought conditions in the country. In the U.S., the acreage under soybean, according to experts, in 2018/19 MG can reach of 91.5 million acres, exceeding the acreage of corn. This fact puts pressure on the market.

 

Rapeseed as of the reporting week declined after the soy and 23.03.18 reached the level of USD 427,63 (-1,86 USD).

 

On the Malaysian stock exchange in Kuala Lumpur the nearest futures contract for palm oil for the reporting week declined by 2.75 USD to 617,75 USD.



Translated by service "Yandex.Translation"
Источники: Agro2b
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