Oil crops will be the main source of profit for Ukrainian farmers it the next season – 21.05.2009

The main indicator of global oil crops prices – Chicago Board of Trade brings positive signals for Ukrainian farmers. We observe four weeks soybeans price running. July futures added 1,1 to 1,2 bucks for last month reached 11,1 usd/bu of soybeans, that is very good price. September futures also added about a buck to the last month price stepped over $10 edge.

Andriy Tovstopyat an analyst of Ukrainian Agribusiness Club assumes that in the case US farmers would not be able to finish soybeans planting at the nearest week we may watch high prices of oil crops next season. “Since my arrival to Iowa three weeks ago I noticed the change of mood from optimistic towards restrained prudence concerning future yield”, - the expert comments. By this time only about 15% of all soybeans area already planted within two major producers in the US – Iowa and Illinois. The optimal dates of planting – 12-15-th of May are already passed but current weather doesn’t allow expecting that work will be done in the nearest time.

Thereby we may assume that Ukrainian farmers who survived troubles with planting their oil crops and recent frosts, they will get a beneficial price this fall. This tendency is supported by other oil crops markets: rapeseed futures at Euronext are rated at 430 usd/ton (40 dollars rise) and sunflower futures reached 350 usd/ton level at Budapest Commodity Exchange (+50 USD for last month). Besides, increasing crude oil prices and high demand for vegetable oils are support price raise as well.

Ukrainian Agribusiness Club

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• Agrotrade Group became a member of UCAB – 20.01.2012
• Alex Lissitsa represented Ukraine at Euromoney Central and Eastern European Forum – 18.01.2012
• Oil crops will be the main source of profit for Ukrainian farmers it the next season – 21.05.2009
• Agricultural management practices of the United States are to serve to Ukrainian colleagues – 27.04.2009
• Ukrmilkinvest is realizing their project of productivity raising in the field of dairy farming – 16.04.2009