A report from the US Department of Agriculture surprised soybeans, showing that the yield in the US was 51.2 bushels per acre compared to 51.5 estimated last month. This number contradicts traders’ expectations of upward revision. Futures are rising amid a decline in global soybean production in the United States.
In turn, these trends have an impact on the growth of prices for the purchase of sunflower and sunflower oil in Ukraine in the direction of growth.
The price of sunflower with delivery to the plant is 18,500 – 19800 UAH / ton. In Ukraine, as of November 5, sunflower was harvested on 95% of the area, or 6.2 million hectares, and 14.7 million tons were harvested with a yield of 2.38 t / ha, which is lower than the expected levels of 16.2-16.8 million tons.
At the elevators of G.R. Agro in the season of 2021/2022, the volume of accepted sunflower consignments increased by 2.6 times compared to the same period.
Looking at the growth of tariffs for drying oil seeds at the company’s elevators, an increase in the volumes of stored sunflower by the depositor and a very low level of sales are being swept aside. The expectation of prices by agricultural producers is announced at the level of 19500 – 20,000 UAH / t according to the census at the elevator.