International Soybean Market Newsletter

Introduction: 1 On Thursday, CBOT related agricultural products futures and palm oil futures closed: soybean March contract (2005) closed at 620'0 cents, up and down: 1'2 cents / bushel soybean oil March contract (2005) closed at 22.85 cents, up and down: - 0.15 cents / pound soybean meal March contract (2005) closed at 186.9 US dollars, Gains and losses: 0.7 US dollars / short ton wheat March contract (2005) closed at 330'0 US cents, gains and losses: - 2'0 US cents / bushel corn March contract (2005) closed at 209'4 US cents, gains and losses: - 0'6 US cents / bushel palm oil March contract (2005) closed at 1395 ringgit, Ups and downs: - 8 "ringgit / ton 2 According to the report data of" oil world ", although the output has increased by 30%, Ukraine's poultry import has maintained a rapid growth, and the import volume of the whole year of 2004 has doubled compared with that of a year ago 3 CCC bid for 2000 metric tons of natural degummed soybean oil for Guatemala The date of shipment is from April 20 to May 5, 2005 The deadline for bidding is 3:00 p.m on Tuesday, March 8, 2005, central time CCC will announce the bidding results on March 9, 2005 at 4:00 p.m central time 4 According to the report of oil world, in addition to the drought in Brazil and Argentina threatening soybean production, Paraguay is also suffering from soybean yield reduction caused by drought, and the situation is quite serious The magazine even believes that the per unit yield may be reduced by more than 50% 5 Pt Astra Agro LESTARI (aali JK) in Indonesia said it sold 4000 tons of crude palm oil (CPO) at auction on Wednesday 6 Pakistan's vegetable oil imports are expected to grow by at least 7% in 2005, a senior government official said Thursday, as economic growth has increased domestic consumption "The growth rate of local consumption is about 7%, all of which depend on imports to meet their needs," the official said Our domestic production is not expected to increase because farmers are turning their oil crops to crops such as cotton and wheat, which can achieve greater benefits " 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 3: Port quotation and yesterday's change Louisiana bay port 670.25-675.25 rose 2.00-3.00 port of Toledo, Great Lakes region 607.25-611.25 fell 0.00-2.00 port of Chicago, Great Lakes region 609.25-623.25 fell 0.00 Port Norfolk on the Atlantic coast fell 0.008 at 637.00 According to the data of oil world, the import volume of four major Asian countries and regions that import soybeans and soybean meal dropped significantly in January compared with the previous year, but the cumulative import volume from October 2004 to January 2005 increased by 12% compared with the previous year, mainly due to the increased demand for soybean meal in China 9 According to the Minister of planting industry and commodity of Malaysia, the biochemical diesel law will be introduced in Malaysia this year At the annual price outlook meeting organized by the Malaysian derivatives exchange, chin said the government had agreed to investigate the use of palm oil biodiesel and would decide in the middle of the year whether to use its exports locally 10 A senior industry official said Wednesday night that Indian soybean oil companies were dissatisfied with the federal government's lowering of the benchmark price used to calculate soybean oil import tariffs "Changing tariff prices at the peak of rapeseed harvesting may give oilseed farmers a false signal that they will switch to other cash crops," said the president of the soybean processing association of India On Tuesday, India lowered the benchmark price used to calculate import duties on soyoil to $485 per ton, up from $565 previously 11 Pt perkebunan Nusantara Indonesia sold 3500 tons of crude palm oil (CPO) at the government's twice-a-week auction on Thursday, according to an official at the agency selling palm oil produced in domestic plantations 12 Milton ng, executive director of agricultural products trading agency under Sinar Mas Group in Indonesia, said that the growth of Indonesia's crude palm oil (CPO) production will slow down to 8% in 2005, down from 19.8% in 2004 Ng expects Indonesia to produce 13.7 million tons of CPO in 2005