Brazil's soybean exports have declined in the near future
-
Last Update: 2001-08-16
-
Source: Internet
-
Author: User
Search more information of high quality chemicals, good prices and reliable suppliers, visit
www.echemi.com
Introduction: a trader said on Friday that Brazil's soybean exports have not been very active in recent weeks because many sellers are looking forward to the further rise of Chicago market and waiting for the report issued by the US Department of agriculture Last week, the price per ton of main ports in Brazil was about 30 / 35 USD (seller's quotation / buyer's quotation) - 35 / 40 USD for Chicago's September contract premium Such a large price difference undoubtedly makes the seller have a better psychological expectation Traders have said that 28% - 30% of the soybeans produced in 2000 / 01 have been sold, about 10.64-11.4 million tons Soybean prices in Chicago rose again on Friday as USDA's report cut U.S soybean production estimates by 68 million bushels to 2.867 billion bushels, coupled with high temperature and lack of rain that have been enveloping major U.S regions It is also in view of this situation that Brazilian traders have taken a wait-and-see attitude rather than action In addition, in order to prevent economic turbulence like neighboring Argentina, Brazil has obtained loan assistance from the International Monetary Fund (IMF), which has further stabilized the existing market and businesses (author:) share to feed Weibo share to:
This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only.
This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of
the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed
description of the concern or complaint, to
service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content
will be removed immediately.
