At present, China's soybean supply is more than enough

Introduction: there is more than enough soybean supply in China at present According to Singapore, according to trading business Tuesday, there is no need for China to rush to buy American soybeans at present It faces quarantine, because despite the impact of trade in recent months, the domestic oil seed supply is still sufficient On the contrary, due to the weakening of domestic soybean and soybean meal prices, Chinese crushing manufacturers are under pressure to export more soybean meal, because of the recent domestic soybean harvest, and the large number of imported soybeans at the beginning of this year It is not clear when Chinese quality officials will allow buyers to move American soybeans from warehouses in North China's ports, the first US soybeans to arrive in China this year But traders said buyers were not adversely affected because either soybean processing was unprofitable or at a loss Worse, traders do not expect a strong rebound in Chinese soybean meal prices in the near future, but they agree that prices should rebound from their current low "The end-users are not in a rush to remove these soybeans, which has nothing to do with the inspection or control of the General Administration of quality supervision, inspection and Quarantine (CIQ)," said a trader in Shanghai There is sufficient supply In the short term, we don't see much room for a rebound " Some estimate that the port's soybean stockpile totaled more than 2 million tons So far, three American soybeans of the new year have arrived at Yantai and Longkou port in North China Two more ships are expected to arrive this week or next week Traders said there was no problem unloading soybeans, but the local authorities did not allow the transport of soybeans from the port warehouse Yantai and Longkou quality inspection officials told Reuters that the inspection will take up to a month, but traders do not expect that long Quality officials in Dalian declined to comment Despite rumors in the United States, traders in Singapore, Hong Kong and Mainland China believe There is no sign that China has entered the market to buy more American soybeans The current CNF price of American soybeans shipped at sight is between us $198 and US $199 per ton On the contrary, China has started ordering South American soybeans for the next year, mainly due to the expectation that record soybean production in Brazil and Argentina will be achieved, so the long-term soybean yield will be low So far, some say, China may have clinched a deal to buy two ships of South American soybeans, processed at around 40 cents a bushel on the July contract on the Chicago Board of trade Last year, China began ordering South American soybeans as early as October and November for the first time By the end of January, China had ordered up to 15 ships of South American soybeans To ease the oversupply, Chinese mills began to provide soybean meal exports at a low price of $183 per ton Traders say that although domestic consumption is good, there are too many soybeans squeezed Traders in Singapore said, "it's not a question of buying 200000 tons The question is, where is the market?" At present, Indian soybean meal is in the peak season of sales At present, the CNF price of Indian soybean meal in Japan is US $202 per ton, which is not cheap However, the protein content of Indian soybean meal is 46.5%, which is higher than that of Chinese soybean meal by 44% Due to its geographical location, China has been transporting soybean meal to some small peripheral ports of Japan in the past few months, using micro vessels ranging from 1500 tons to 3000 tons FOB prices range from $185 to $195 per ton Some soybean meal was also shipped to South Korea (author:) share to feed Weibo share to: