Soybeans for processing rise to $480 on domestic demand

According to the SPIKE Spot Index, GMO soybeans on CPT Odesa terms for export rose to $440 per ton, adding $5 week-on-week. GMO soybeans on CPT Odessa parity terms for processing rose to $480 per ton with VAT, adding $8 from the previous level of $472.
“The export price is stable, while processing has increased the parity, which reflects domestic demand on the background of stable exports. The market remains balanced: farmers are not in a hurry to sell, but processors are not showing aggressive coverage,” analysts note.
The global soybean complex showed mixed dynamics last week. Soybean oil on the Chicago Board of Trade rose by 3.3% week-on-week, while palm oil declined. Technically, soybeans in Chicago are still in an upward trend, but the end of the week was accompanied by profit-taking. The market is in a resistance zone, and further movement will depend on the pace of harvesting in Brazil.
On the physical market in Europe, soybean oil has stabilized after the previous growth. On FCA Hamburg terms, March contracts are trading at 1,130 euros per ton, unchanged week-on-week, and April contracts are trading at 1,105 euros, also unchanged. A week earlier, there was a more active growth, but now stabilization has come, which signals a slowdown in the momentum.
Source: https://agronews.ua/news/soya-dlya-pererobky-podorozhchala-do-480-dolariv-na-foni-vnutrishnogo-popytu/