International Soybean Market Newsletter

Introduction: 1 The following is the spot price of soybean in Brazil's main crop producing areas on the 21st provided by the Broker: (the quotation unit is Brazilian real / 60kg bag) the price in the producing areas on the last day is Ijui 26.50 26.20 Paso Fundo 27.50 27.20 (Note: 1 US dollar = 2.578 Brazilian real) 2 In the monthly long-term forecast, cropcast, a subsidiary of geosatellite, said that due to the warm weather and limited rainfall expected in May, the planting progress of corn and soybean in the United States in this quarter should be faster Cropcast's report also shows that the weather in June and July in the United States is drier and hotter than in previous years, which may put pressure on corn crops The cool, rainy weather in August will be good for soybean crops 3 Soybean fields in southern Brazil will receive rain on February 23 due to the transit of air-conditioning masses, but this will not be enough to relieve the drought pressure on crops, the private meteorological forecast agency said Friday In recent weeks, the South Rio Grande soybean crop in No 3 soybean producing state has been severely hit by drought The plant is in the stage of filling and bean shaping At this time, normal rainfall is very important for good yield 4 Malaysia exported 694139 tons of palm oil during February 1-20, up 7.9% from 643330 tons in the same period of January, its said on Monday Traders said the data was lower than expected and could have a negative impact on palm oil prices During this period, the export of market raw materials will be around 750000 tons Its does not provide details of export products and destinations 5 Jordan soybean processing plant in Manitoba, Canada, has been in trouble for several times due to poor planting conditions in last summer and autumn, but this does not mean that the company will not expand further when conditions are favorable With the continuous development of manitobad soybean production, Jordan processing plant can crush 21000 tons of soybean every year, but in November 2004, the expansion of the plant doubled the annual crushing capacity to 42000 tons 6 Importers and traders said on Friday that in the week ending February 18, Mexico's spot grain trade increased as a result of the moderate buying interest triggered by the fall in soybean prices Some American soybean producers, once reluctant to sell, eventually gave up and stopped waiting for prices to rise, traders said "The overall volume of trading rose, but prices fell sharply this week, from 102 points to 85 points, greatly stimulating demand from buyers," said a Mexican trader 7 Argentina's spot soybean prices closed steady on Monday Traders said the market lacked guidance due to the closure of the Chicago Board of trade In Rosario, Argentina's main agricultural market, soybean prices closed at 445 pesos per ton (about $153) Volume was moderate, falling to 14000 tons from about 20000 tons on Friday In Rosario port, The price of soybeans delivered in May was flat at $1 higher at 148.8 per ton As of February 14, Brazilian growers had reaped 7 percent of the estimated 62.6 million tons of soybeans, compared with 5 percent a week ago, according to agrural, which said drought in the southern soybean region had damaged crops The company's estimate of Brazil's good crop rate fell to 79 percent from 84 percent a week ago If there is no rain in the next few days, The crop situation in the south is likely to deteriorate