CBOT soybean futures gained 2.5% last week

09.08.2018

Over the period under review (July 27-August 02), CBOT soybean futures gained 2.46%, reports UkrAgroConsult.

Soybean futures were supported by increased soybean exports from the USA, despite the absence of purchases by China and expected worsening of crop conditions estimate of the USDA.

In the second half of the week, soybean market was pressured by bearish factors. Crop conditions did not change – 70% of the crop was in good and excellent condition. Moreover, the market followed the recent escalation of USA-China trade relations: The US President announced a 25% increase in import duties for Chinese goods in the total amount of USD 200 billion instead of the 10% duty. What is more, when approaching the end of the season, the exports of US old-crop soybean decrease.

CBOT soybean oil futures wend down to 28.12 cents per pound (-0.11% over the week). Bearish trends of the second half of the week in the soybean market pushed the soyoil prices down.

Check up prices and enjoy free online charts on UkrAgroConsult’s website. Daily updated commodity exchange prices (CBOT, ASX, BCE, MATIF, WCE, LIFFE) and cash market quotations for wheat, corn, barley, soybean, sunflower and other agricultural commodities in Ukraine, Black Sea region and world are available in section "Prices and Futures".

More detailed information on the latest trends in oilseeds/vegoils/meals exports, supply and demand balances with breakdown by crop as well as crop conditions and progress in harvesting in the countries of Black Sea Region is available to subscribers for weekly market report "Black Sea Vegoils" by UkrAgroConsult.

Further prospects of the Black Sea oilseeds/vegoils market will be discussed at the VI International Conference “Black Sea Oil Trade”, which will take place on September 20, 2018 in Hilton hotel, Kiev, Ukraine. Organizer – UkrAgroConsult company.

 

UkrAgroConsult

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