Asian soybean meal market will come out of downturn driven by South Korea

Introduction: Singapore, May 30 (Reuters) - Asian soybean meal industry sources said Thursday that the FMD crisis in South Korea has eased, Argentina's supply is expected to improve, and Asian soybean meal trade is expected to increase in the next few weeks As the largest soybean meal market in Asia, South Korea has not found new cases of FMD in 10 days, while the four-day strike in Argentina's grain and livestock market has ended, and the market supply has been greatly weakened during the four-day strike Local oilseed traders say South Korea is ready to return to the market at any time Traders are optimistic about the future Since the outbreak of FMD on May 3, South Korea has confirmed that 12 pigs have been infected with FMD, and more than 110000 livestock have been slaughtered to ensure that the disease is completely eliminated before the opening of the FIFA World Cup final on Friday Traders said that at present, Argentina's soybean meal prices are the cheapest, and the supply situation is better than last month, when farmers were reluctant to sell, resulting in a shortage of supply Argentina itself still has problems, but the most difficult period has passed Although the situation in Argentina has been a big unknown, traders are not very worried about signing contracts with it Argentina's C & F price per ton of soybean meal was $200, India's $210, and the United States' high-quality soybean meal was $215 In addition to South Korea, traders are also looking to increase imports from Japan, the Philippines and Malaysia as demand for commercial feed is expected to increase Earlier this week, oil world, based in Hamburg, said China could resume soybean meal imports as regulations on imports of genetically modified ships have weakened domestic soybean crushing But Asian businessmen say China will not import soybean meal immediately A Singaporean businessman said he did not think that China would import soybean meal immediately, and that although the amount of crushing had declined, it remained at a healthy level An Indian soybean meal exporter said it could be a blessing for exporters if China imports Even if there is a little sign that China may import soybean meal, the price of soybean meal may soar, but there is no such sign now On Wednesday, CBOT soybean meal futures rose $1.10 per ton to the same level as the previous trading day, rising $1.10 in July to $165.30, while the forward rose 20 cents to $153.10 in December Soybean oil and soybean meal arbitrage unlock the Lido soybean meal, which is bad for soybean oil Some Southeast Asian Importers entered the market to purchase in spite of the fact that many import Treasury Deposits decreased and Chicago prices strengthened, the dealers said Southeast Asian Importers will be actively searching for supplies in the first half of June, one businessman said, and some are still worried about the crisis in Argentina They are trying to import some Brazilian soybean meal Earlier this week, Bangkok merchants said Thai feed mills were looking for Brazilian soybean meal for June shipment The trading bank offered high-quality Brazilian soybean meal at a price of US $206-207 per ton C & F for June / July shipment Even South Korea has begun to publicly choose Brazilian soybean meal, one trader said They imported some Brazilian soybean meal last month, and they may import it if the price is competitive Many Asian Importers choose from Argentina, India and the United States, but when they find it difficult to get the cargo from other traditional sources, they only import Brazilian soybean meal (author:) share to feed Weibo share to: