Analysis of soybean supply and demand and price in the United States

Introduction: the current soybean inventory levels in the United States, Argentina and Brazil put great pressure on the current soybean prices Currently, soybean prices are at their lowest level since April 1973 Soybean prices are down an average of 11 cents a bushel compared with last year [supply] across the United States, 79% of soybeans have fallen In Iowa, Wisconsin, Michigan and Missouri, the maturity rate is well below the five-year average As far as the whole country is concerned, soybean harvesting is completed by 16%, compared with 23% at this time of the year under normal circumstances In Iowa, only 6% of soybeans are harvested Nationally, 55% of soybeans are rated good or good, up from 53% last week The U.S House of Representatives plans to begin discussions in the state on the agriculture bill of the house of Representatives Agriculture Committee The proposed agriculture bill is based on the transfer of expenditures for commodity projects and income support to land retention and land fallow projects If the bill is passed, farmers will be compensated for significantly reducing the area planted Traditionally, soybean farmers receive most of the agricultural subsidies provided by the US government It is for this reason that lobbyists from the soybean farmers' group are trying to stop this move by Congress, whose new agriculture bill will lead to billions of dollars of agricultural subsidies being transferred to projects that are designed to lay fallow land and improve the environment Soybean farmers believe that if the new bill is passed, their farms will face economic and environmental pressures Mississippi's soybean harvest is in danger of serious yield losses The state's grain warehouses are no longer willing to accept most of the local soybeans because of local weather changes, high pest density and field drainage problems, resulting in a large number of moldy and rotten soybean fields Mississippi's soybean yield is also under threat The weather in the area is described as a "windless tornado" It's always cloudy and wet Just as the state's soybeans were approaching maturity, this unexpected weather occurred Because of the high density of pests, especially bedbugs, Mississippi soybean is facing severe damage The state reported a particularly high pest density this year Farmers said bedbugs caused the pathogen "Phomopsis longicula" to spread much faster in soybean fields India said it would have enough soybean supplies to absorb demand from Malaysia, the Philippines and Vietnam if the US could not fulfill its contracts with soybean importing countries because of the war on terrorism India feels that it has a geographical advantage in these markets [demand] the rapid development of Thailand's chicken industry led to the approval of the Thai cabinet to increase the import quota of 300000 tons of soybeans in 2001, from the previous 1.2 million tons to 1.5 million tons Soybeans imported under the world trade organization's minimum market access (MAV) will not be subject to tariffs, while imports other than MAV will be subject to tariffs of 84.5% For Brazil, this year's shipments of soybeans, soybean meal and soybean oil will reach a record 26.65 million tons, 9 percentage points higher than the previous estimate of 24.5 million tons, and 22 percentage points higher than last year's historical record of 21.9332 million tons In the near future, Japan's demand is expected to increase After Japan confirmed the discovery of the first case of BSE or bovine spongiform encephalopathy, Japan banned all meat and bone meal imports Every year, Japan imports 184000 tons of meat and bone meal, and produces 300000 to 400000 tons of meat and bone meal domestically Soybean exporting countries are urgently waiting for demand from Japanese Importers to rise as imports of meat and bone meal are expected to be replaced by imports of soybean meal On Tuesday, the commodity credit corporation (CCC), a unit of the U.S Department of agriculture, temporarily canceled its bid to buy 9980 tons of high protein soybean meal and donated it to El Salvador and Montenegro However, on Friday, CCC re invited bids to purchase 4000 tons of soybean meal to donate to Montenegro On September 26, the U.S Department of Agriculture announced that 120000 tons of soybeans were sold to Indonesia On September 27, Algeria purchased 15000 tons of soybean meal, which was shipped in the first half of November On September 28, the U.S Department of Agriculture reported that the Philippines purchased 51392 tons of American soybean meal according to the first plan of pl480 project [price] Argentina's soybean fell less than Chicago's The reason why the price trend deviates from that of Chicago is that Argentina's soybean export is strong and the total squeezing volume is increased US soybean spot prices in December were very low So farmers hoarding soybeans won't benefit from the market In the next few months, there will be a considerable number of soybean stocks in the market, and the price will hover at a low level for a while On Thursday, Sept 27, CBOT closed at $4.6175 in November on weak buying, harvesting pressures and market expectations that Friday's USDA inventory report would show ample soybean supply Soybean meal prices also closed lower Soybean meal closed at $161.90 in October and $160.70 in December On Friday, the U.S Department of Agriculture released a quarterly grain inventory report that said U.S soybean stocks stood at 24793 million bushels as of September 1, higher than the industry's forecast of 225 million bushels Soybean production is expected to be 2834 million bushels, a new record in history The news led to a downturn in soybean prices Soymeal closed at $4.51 in November, $161.40 in October and $159.40 in December On Monday, the market rose on concerns of possible frost over the weekend, which could cause losses to soybean crops Soybeans closed at $4.52 in November and soybean meal rose to $160.70 in December (author:) share to feed Weibo share to: