China's tight soybean supply will not be relieved next week

Introduction: osterdowjones, Singapore, June 12: imported soybeans that dock at Chinese ports this week began to unload, but according to market participants on Wednesday, the tight supply of soybeans in China will not be relieved in the coming week According to traders, some crushers are in urgent need of soybeans, but they have not yet obtained import licenses for soybeans, while others are far away from ports, making it difficult to purchase imported soybeans A trader at an international commodity trading company based in Hong Kong said it was fortunate that soybeans began to unload, but supplies were still short Before the soybean is transported to the end user, it is necessary to wait for the end of the inspection procedure Soybean imports have been hampered after the Chinese government issued regulations on genetically modified products in March Regulations require that importers of soybeans should obtain import, identification and quarantine licenses before unloading Quarantine permits for some soybeans waiting to be unloaded at the port will not take effect until next Monday Under the situation of soybean shortage, according to dealers, the current price of domestic soybean in Dalian is about 2120 yuan to 2200 yuan per ton (1 US dollar equals 8.28 yuan), compared with 2080 yuan to 2100 yuan per ton in May According to a trader in Beijing, the shortage of soybeans in the mainland is even worse He said that the situation is different in different crushing plants Some plants can keep their soybeans for another 20 days, and some plants have no soybeans China's soybean supply is more tight There are many small crushing plants in Henan Province, they can't buy imported soybeans because of the problem of capital flow But it's easier for coastal crushers to buy imported soybeans After soybean unloading, it will take two to three days for quarantine inspection, and then it will take about five days to transport the soybean to the warehouse or directly to the crushing plant Brazil's soybean suppliers may be hoarding soybeans On Wednesday, traders in Asia highlighted that Brazil's soybean prices continued to rise because of market expectations that Brazil's economy will further decline and its currency will depreciate Brazil's soybean suppliers may be hoarding soybeans U.S soybean prices are usually $5 per ton higher than South American soybeans But according to traders, the price gap between the two soybeans is narrowing, with Brazil's prices higher than those of the United States A trader at an international commodity trading company based in Singapore said some Brazilian suppliers may not sell soybeans because the Brazilian currency real depreciated too much It's good for their exporters, but for domestic farmers, devaluation has cost them a lot The devaluation of the Brazilian real against the U.S dollar has enabled Brazilian soybean exporters to earn more of their own currency, because export trade is conducted in U.S dollars, but it is not good for domestic farmers who earn real unless they raise their prices On Tuesday, the Brazilian real was at $2.712, compared with $2.636 at Monday's close Ten days ago, the real was trading at 2.510 reais to the dollar According to an official from a press factory in Taiwan, the current offer for Brazil's northern soybeans is 110 cents to 115 cents per bushel of water on CBOT's November soybean price, CIF Kaohsiung port In contrast, the U.S soybean price is 110 cents per bushel of premium, CIF, on CBOT's November soybean price Brazil's southern soybean price is in November CBOT soybean prices rose 100 cents to 110 cents According to other traders, northern Brazil's soybean prices are usually higher than those of the United States, because the soybeans sold in northern Brazil are mainly high priced soybeans with high protein content In late April, U.S soybeans sold to China for $206 to $207 a ton, CNF and South American soybeans for $200 a ton (author:) share to feed Weibo share to: