A decrease in the supply of soybeans may contribute to the growth of prices - analytics

07/06/2023 10:54

At present, soybeans are actively exported from Ukraine, and stocks of the crop have fallen to a minimum. A reduction in supply may contribute to higher prices in the short term.

Analysts of the "PUSK" cooperative, created within the framework of the VAR, told about it.

"Soy is actively exported, there are already contracts for 150,000 tons for June, we will probably be able to export more than 200,000 tons this month. However, according to official data, soybean stocks are approaching minimum levels. But even if we take into account the shadow market of this oil crop, stocks will not exceed 800,000 tons — soybeans are already low, and this is felt both by the number of transactions and liquidity. The supply is constantly shrinking, soybeans are gradually becoming a scarce crop, which may lead to a temporary jump in soybean prices," the analysts said.

As noted, the price of soybeans in the ports is tentatively $470/t with delivery to Reny and Izmail, against the background of low supply, the price may rise to $490/t.

"But later, after July 15, when shipments of large volumes will take place, prices will stabilize," the PUSK analytical department added.

Processors announce purchase prices for soybeans in the range of UAH 17,700-18,000/t SRT plant. Prices on DAP Poland-Romania terms may reach $450/t this week, and drop to $420-430/t by the end of the month.

Meanwhile, as of June 2, soybeans were sown in Ukraine on 1.73 million hectares or 94% of the forecast. Farmers of Khmelnytskyi region (192.3 thousand hectares), Zhytomyr region (179.9 thousand hectares), Vinnytsia region (150.9 thousand hectares) and Poltava region (150.2 thousand hectares) sowed the most crops.

At present, soybeans are actively exported from Ukraine, and stocks of the crop have fallen to a minimum. A reduction in supply may contribute to higher prices in the short term.
Analysts of the "PUSK" cooperative, created within the framework of the VAR, told about it.
"Soy is actively exported, there are already contracts for 150,000 tons for June, we will probably be able to export more than 200,000 tons this month. However, according to official data, soybean stocks are approaching minimum levels. But even if we take into account the shadow market of this oil crop, stocks will not exceed 800,000 tons — soybeans are already low, and this is felt both by the number of transactions and liquidity. The supply is constantly shrinking, soybeans are gradually becoming a scarce crop, which may lead to a temporary jump in soybean prices," the analysts said.
As noted, the price of soybeans in the ports is tentatively $470/t with delivery to Reny and Izmail, against the background of low supply, the price may rise to $490/t.
"But later, after July 15, when shipments of large volumes will take place, prices will stabilize," the PUSK analytical department added.
Processors announce purchase prices for soybeans in the range of UAH 17,700-18,000/t SRT plant. Prices on DAP Poland-Romania terms may reach $450/t this week, and drop to $420-430/t by the end of the month.
Meanwhile, as of June 2, soybeans were sown in Ukraine on 1.73 million hectares or 94% of the forecast. Farmers of Khmelnytskyi region (192.3 thousand hectares), Zhytomyr region (179.9 thousand hectares), Vinnytsia region (150.9 thousand hectares) and Poltava region (150.2 thousand hectares) sowed the most crops.
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