Demand will influence the price trend of corn and soybean market in the United States

Introduction: for now, the price of US corn and soybean seems to have reached the bottom of the harvest, although many analysts are waiting for the latest supply and demand report on November 9 to make a final conclusion If there is no surprise in the report, lower prices in the harvest season will gradually strengthen the basis for the next two months, while spot prices will rise moderately In addition, the corn and soybean markets may be supported by tight supply of wheat and concerns about weather and crop growth in South America At present, excessive rainfall in some parts of Argentina delayed corn planting, while higher temperature in some parts of Brazil may also affect the growth of early soybean Now, the price of corn and soybeans in the US is increasingly affected by domestic and export demand In terms of corn, in terms of weekly export shipment and sales, the number of shipments in the first eight weeks of this year was relatively small, at 287 million bushels, a decrease of about 15% over the same period last year The main importers, except South Korea, are less than last year's corn imports in the United States this year As of October 18, the total amount of U.S corn not shipped was 279 million bushels, almost the same as last year's total This year, the U.S Department of agriculture forecasts corn exports to the United States at 2.05 billion bushels, an increase of 110 million bushels over the year 2000-01 But if sales remain sluggish, the market will be worried about the impact of the global economic slowdown on corn demand US domestic corn feed and other demand will be reflected in the USDA's quarterly grain inventory report This year's information on food stocks will be published in the quarterly inventory report on January 11, 2002 Now, the decline in pork production and the number of live cattle on hand means that domestic corn feeding and other demand in the United States is stable The U.S Department of agriculture will also provide a seasonal report on corn processing demand in the United States All indications are that the increase in corn use for ethanol production will boost domestic corn processing demand in the United States In terms of soybeans, the number of export shipments in the first eight weeks of this year was relatively small, at 148 million bushels, and the cumulative number of shipments was 32 million bushels less than that in the same period last year This continues the slow progress of shipment since the spring of 2001 Four of the top five U.S soybean buyers (EU, China, Mexico and Japan) imported less than in the same period last year Taiwan's import progress is in line with that of last year On the contrary, as of October, the number of unsold goods was huge, reaching 322 million bushels, an increase of 41% over the same period last year At present, U.S soybean exports to major foreign countries, with the exception of Mexico and Taiwan, have a large number of sales In the remaining 45 weeks of this year, soybean sales have reached 42% of the total This year, the U.S Department of agriculture forecasts domestic soybean crushing at 1.66 billion bushels, up 19 million bushels from last year alone Last year's growth was 63 million bushels It is expected that the reason for the slow down of squeezing is that the consumption of soybean meal in China is only slightly increased while the export of soybean meal is slightly reduced But at present, soybean meal export sales increased by 1 million tons compared with the same period last year, to 2.3 million tons It is predicted that in September 2001, the domestic soybean pressing volume in the United States will be 128.3 million bushels, with a decrease of 540000 bushels in the same period last year At the start of the current year, expectations for us corn and soybean consumption diverged It is not expected that the economic slowdown, the adverse effect of foreign exchange rate on US exports and the slowing growth of US domestic breeding industry are favorable factors, but at the same time, the global wheat supply is tight, the growth situation in early South America is worrying, the outlook for Chinese soybean demand is optimistic, and the corn competition in China is expected to weaken, which also provides some optimistic factors for us corn and soybean consumption prospects It is expected that in the next few months, the market will look for direction in the influence of these or other factors But for now, U.S farmers will focus on the rebound in spot prices after harvesting to find sales opportunities (author:) share to feed Weibo share to: