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Sunflower prices in Ukraine fell after vegetable oil prices weakened, with palm oil at a two-year low near $582.5/t and Chicago palm futures at 2.5-year lows. Ukrainian sunflower oil dropped to $720-725/t FOB Black Sea, and processors cut seed bids by 500-800 UAH/t.
Larger expected 2018 sunflower plantings in Ukraine and Russia add pressure.
Weaker vegetable oil demand from China and India and rising new-crop sunflower acreage point to lower sunflower oil and seed prices, with knock-on softness for sunflower meal values.
graintrade.com.uaJun 14, 2018Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Palm oil at two-year lows and weak vegetable oil prices on 2018-06-14 point to competing-oil pressure on soybean oil, a same-day substitution and sentiment effect.
