International Soybean Market Newsletter

Introduction: 1 On Tuesday, CBOT related agricultural products and palm oil futures closed: soybean March contract (2005) closed at 619'4 cents, up and down: 11'0 cents / bushel soybean oil March contract (2005) closed at 23.42 cents, up and down: 0.58 cents / pound soybean meal March contract (2005) closed at 181.2 US dollars, Gains and losses: US $0.6/short ton wheat March contract (2005) close: 329'0 cents, gains and losses: 5'6 cents / bushel corn March contract (2005) close: 206'6 cents, gains and losses: 1'2 cents / bushel palm oil March contract (2005) close: 1409 ringgit, Ups and downs: - 28 "ringgit / ton 2 As of February 24, the number of soybean exports from the United States to China was quite large, far exceeding the level of the same period last year," according to the report of oil world At present, U.S soybean oil inventory also dropped to a six-year low in early February 3 South Korean feed manufacturers bought 10000 tons of Indian rapeseed meal and 3000 tons of Chinese cottonseed meal, traders said Monday These feed manufacturers include the main feed group (MFG), NONGHYUP Feed Co., Ltd and Pusan branch of Korean Feed Association 4 The chairman of the Malaysian palm oil Promotion Committee said that the development of the biofuel industry will greatly increase the market demand for palm oil in 2005 and beyond There is a growing global focus on the environment, so a clean alternative fuel is needed, which may increase the demand for cooking oil European countries are mixing palm oil with diesel The Malaysian government is also putting palm oil on its agenda as a biodiesel fuel 5 US farmers should check their soybean fields frequently as early as possible to avoid the spread of soybean rust in Asia this quarter, the agricultural investment group said on Monday The chairman of South American soybean LLC said that farmers should walk around the fields from time to time to check the seedlings of soybean plants for small spots of early symptoms of soybean rust South American soybean LLC, based in Illinois, is seeking investment to build a soybean farm in Brazil 6 Oil world news, according to the survey report, the rainfall in Malaysia in January 2005 was less than a month ago in western Malaysia and Sabah Palm production is expected to be affected 7 The following is the U.S No.1 soybean export quotation (unit: US cents / bushel) delivered within 30 days from the U.S port on March 8: Port quotation and yesterday's change, port of Louisiana 662.50-663.50, up 11.50-9.50, port of Toledo, Great Lakes region 605.50-609.50, up 9.50, port of Chicago, Great Lakes region 607.50-620.50, up 9.50 Port Norfolk, on the Atlantic coast, rose 10.008 at 636.00, with traders saying on Monday that Japan and Taiwan will be moderate buyers this week Some Japanese buyers will end the process of ordering soybeans for the second half of April At present, Japan orders less than 400000 tons of soybeans per month, due to the low price of overseas soybean meal and oil, and the reduction of soybean crushing capacity by oil seed crushers According to the Ministry of economy, Japan imported 4.41 million tons of soybeans in 2004, the lowest level since 1991 9 Taiwan breakfast soybean Purchasing Association Kaohsiung Branch (bSPA) will bid to buy 40000-60000 tons of us or Brazilian soybeans on Wednesday, a Taipei trader said on Tuesday 10 Senior industry officials said that the El Ni? O phenomenon may hit Malaysia in 2005, resulting in the decline of the world's largest palm oil production M.R chandran, chief executive of the Malaysian palm oil council (MPOA), said El Nino, which is usually caused by abnormal dry weather, is likely to happen again this year after two years of calm