The global situation of soybeans is not easy because of the trade war between the United States and China, which began last spring, the Head of the Refinitiv Agriculture Research, Daniel Redo, confirms. Due to high stocks, world prices for soybeans are declining, but in Russia soybean meal is not getting cheaper.
Despite the growth of soybean production in Russia (gross harvest in 2018 reached a record 4 million tons), the country remains its largest importer. According to the FAS USDA forecast, this season import will be 2.45 million tons. In the past two months, the ruble prices for soybean meal, in particular, in the central part of Russia, are at the level of 35-37,000 rubles / ton ($ 541 - 572) and do not decrease, as in the global market. The main problem of Russia is that there is only one major world importer of soybeans, Sodruzhestvo Company. Accordingly, the prices for soybeans and meal inside Russia are quite high, which undermines the competitiveness of Russian livestock in the world market.
In the world now, soybean meal has been trading at a minimum level since September 2017 - $ 350 per ton, whereas a year ago it was worth $ 450 / ton, leading expert at the Institute for Agricultural Market Studies (IKAR), Daniil Khotko, notes. "The reason is the presence in the world of a surplus balance in soy because of the US-Chinese trade war: the United States has huge reserves," he explains. According to the FAS USDA, this season the soybean ending stocks in the United States could reach 24.5 million tons against 11.9 million tons in 2017 / 18th.
Based on zol.ru.
