International Soybean Market Newsletter

Introduction: 1 On Tuesday, CBOT related agricultural products futures and palm oil futures closed: soybean March contract (2005) closed at 605'0 cents, up and down: - 10'4 cents / bushel soybean oil March contract (2005) closed at 22.7 cents, up and down: - 0.52 cents / pound soybean meal March contract (2005) closed at 181.6 US dollars, Gains and losses: - US $1.40 / short ton wheat March contract (2005) closed at 330'0 cents, gains and losses: - 7'2 cents / bushel corn March contract (2005) closed at 211'0 cents, gains and losses: - 3'4 cents / bushel palm oil March contract (2005) closed at 1382 ringgit, Ups and downs: - 21 "ringgit / ton 2 According to the survey data of" oil world ", the global soybean squeezing failed to reach the expected level in October December 2004, and the global soybean squeezing volume in this quarter decreased by 1 million tons compared with a year ago 3 According to statistics of the Ministry of agriculture of Argentina, as of Friday, the soybean planting work in 2004 / 05 in Argentina has been completed by 99%, which is no progress compared with that a week ago In the same period last year, the soybean planting work has been completed This year's total soybean planting area is 14.25 million hectares, compared with 14.5 million hectares last year 4 According to the report of oil world, in terms of the loss of South American soybeans caused by the current drought, the output of South American soybeans this year is at least 5 million tons less than the previously predicted figure of the magazine 5 Producers have sold 37% of Brazil's new beans in 2004 / 05, still far below 56% in the same period last year, according to celeres, an analysis firm, on Monday In its weekly report, the average value for the past five years is 47%, but until recently, international soybean prices have been weak and production costs and freight are high According to the report, 11% of new beans have been harvested, in line with the five-year average 6 According to the analysis of the report of oil world, despite the continuous growth of global consumption, the oil seed production will still exceed the consumption It is estimated that the remaining gap will be about 21 million tons in 2004-05 Therefore, the magazine predicts that the inventory of seven major oil seed crops will reach 68.8 million tons at the end of the period 7 The following is the U.S No.1 soybean export quotation (unit: US cents / bushel) delivered within 30 days at the U.S port on March 1: Port quotation and yesterday's change: port of Louisiana port 653.25-654.25 fell 7.25-6.25 port of Toledo, Great Lakes region 593.25-599.25 fell 8.75 port of Chicago, Great Lakes region 597.25-609.25 fell 8.25-4.25 Port 623.00 of Norfolk, on the Atlantic coast, fell 9.008 Canadian market analysts said on Monday that the planting area of canola in Canada will fall 3% to 12.75 million acres this spring, but the recent rise in the price of canola may increase the area However, at the grainworld outlook meeting, the independent agricultural adviser said that Canada's ending inventory of rapeseed for the next year (as of June 31, 2006) would increase by 70% to 2.796 million tons, higher than the 1.66 million tons estimated at the end of the year 9 A private Israeli buyer is bidding for 7000-14000 tons of soybean meal from South America, traders said on Tuesday The shipment is from May 15 to June 5 The deadline for bidding is Wednesday, March 2 10 Egypt's medi trading company said on Tuesday that it had purchased 15000 tons of soybean oil from Glencore, with a price of 539.25 US dollars / ton according to C & F terms An official of the company said it had also purchased 3000 tons of sunflower seed oil from Glencore 11 Brazil exported 413800 tons of soybeans in February, down 8.7% from 453500 tons in the same period last year, according to data released by the Brazilian Foreign Trade Secretariat on Tuesday The export volume in January this year was 351900 tons It is estimated that Brazil's total soybean exports in 2005 / 06 will be 22.5 million tons, exceeding the export level of 19.2 million tons in the previous year