International Soybean Market Newsletter

Introduction: 1 On Monday, CBOT related agricultural products futures and palm oil futures closed: soybean may contract (2005) closed at 626'4 cents, up and down: - 22'4 cents / bushel soybean oil may contract (2005) closed at 22.55 cents, up and down: - 1.03 cents / pound soybean meal may contract (2005) closed at 187.3 US dollars, Gains and losses: - US $4.8 / short ton wheat may contract (2005) close: 342'4 cents, gains and losses: - 14'0 cents / bushel corn may contract (2005) close: 214'4 cents, gains and losses: - 5'2 cents / bushel palm oil may contract (2005) close: 1419 ringgit, Up and down: - 18 "ringgit / ton 2 According to SOMAR, a private meteorological agency, forecast on Friday, parts of southern Brazil and South Mato Grosso State will keep dry at the weekend, but there will be showers in the soybean fields of central and western Brazil In the daily weather forecast, SOMAR said a flow of air-conditioning across the border on Friday would bring some rain to South Mato Grosso, but there was no rain in the southern state 3 Malaysia exported 728116 tons of palm oil between March 1 and 20, up about 5% from 694139 tons exported in the same period of February, its said on Monday Traders said the forecast was in the range of 700000-750000 tons they had expected Its does not provide specific information about export products and destinations SGS, another shipping agency, will later release its forecast for palm oil exports over the same period 4 According to the latest report of the United States counsellor in Austria, the oil seed production in Austria increased by 26.7% to 25044900 tons in 2004, because the increase of per unit yield offset the impact of seed area decreasing to 9634500 hectares Although the area of sunflower seeds increased to 28998 hectares (71361 mu) and the area of soybean increased to 178.62 hectares (441.43 mu), the planting area of all oilseeds decreased 5 According to the report recently released by the US counsellor in Malaysia, the increase of Malaysian soybean meal import in 2003 / 04 market year restrained the growth of soybean import During 2003 / 04, there was no change in the fierce competition between imported soybean meal and imported soybean Argentina once again became Malaysia's number one soybean supplier, accounting for 35% of its soybean import market profits Canada is once again occupying the Malaysian food grade soybean market 6 According to the recent report of the US counsellor in Kenya, Kenya's efforts to attract farmers to grow soybeans are almost ineffective, and the output is far lower than the domestic demand Soybean was first planted in the early 1990s Studies conducted by the Kenyan agricultural research institute confirmed two varieties suitable for production The country grows soybeans mainly in the west, central, Eastern and Nyanza provinces 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 21: Port quotation and yesterday's change: Louisiana bay port 655.50-656.50 fell 23.50-25.50 Toledo port 602.50-605.50 in the Great Lakes region fell 22.50 zhijiage port 611.50-622.50 in the Great Lakes region fell 22.50 Port Norfolk, on the Atlantic coast, fell 22.008 at 632.00 Malaysia exported 748057 tons of palm oil between March 1 and 20, up 10% from 678151 tons exported in the same period in February, SGS said on Monday This figure is higher than 728116 tons published by its Traders said the forecast was at the high end of the market's expected range of 700000-750000 tons 9 Spot soybean prices in Argentina fell for the fourth consecutive trading day on Monday, following the weakness of the Chicago Board of trade (CBOT), but trading remained active In Rosario, the main soybean export port, soybean prices fell 10-20 pesos to 480 / 490 pesos per ton (164 / 168 US dollars) Trading volume remained stable at 30, 10 The Ukrainian government has asked the parliament to sharply cut tariffs on the import of oilseeds, grains and meat to stop illegal imports and balance the local market situation The proposal, published on Parliament's website, said Ukraine should cut its wheat import tariff by 75% to 10% from the current 40-80 euros ($53.73) / ton It proposes to set the barley import tariff at 10%, currently 20-40 euros / ton; the rye import tariff should be 20%, currently 20-40 euros / ton