International soybean market news on Friday

Introduction: 1 On Thursday, CBOT related agricultural products and palm oil futures in the United States closed: soybean March contract (2005) closed at 569'0 cents, up and down: - 7'6 cents / bushel soybean oil March contract (2005) closed at 21.33 cents, up and down: - 0.4 cents / pound soybean meal March contract (2005) closed at 170.2 US dollars, Up and down: - US $2.3 / short ton wheat March contract (2005) closed at 312'6 cents, up and down: - 3'2 cents / bushel corn March contract (2005) closed at 205'6 cents, up and down: 0'0 cents / bushel palm oil March contract (2005) closed at 1372 ringgit, Ups and downs: 12 "ringgit / ton 2 According to the analysis of the report of oil world, due to the increasingly serious impact of drought on Brazilian soybean production, the magazine continued to reduce its estimate of Brazilian soybean production, and it is expected that the loss of production caused by drought will reach 4 million tons." 3 Kansas City commodity bureau announced the bidding results of CCC for purchasing 6650 tons of natural degummed soybean oil for Peru on February 15, 2005 4 According to the analysis of oil world, Paraguay, as one of the main soybean exporting countries in South America, is also seriously affected by the dry weather It is estimated that the soybean production reduction can be as high as 20%, and the original soybean production of the country is expected to be about 5 million tons 5 Pt Astra Agro LESTARI (aali JK) of Indonesia said that it sold 5500 tons of crude palm oil (CPO) at auction on Wednesday and planned to auction 6250 tons 6 According to the data of oil world, the global soybean meal export has not reached the expected level this quarter The total export volume of G4 fell by 900000 tons from September 2004 to January 2005 compared with the same period a year ago, which shows that the global aquaculture demand is still insufficient 7 The following is the U.S No.1 soybean export quotation (unit: US cents / bushel) delivered within 30 days from the U.S port on February 24: Port quotation and yesterday's change, port 629.00 of Louisiana Bay rose 2.25-0.25, port 560.00-561.00 of Toledo in the Great Lakes region fell 7.75, port 559.00-569.00 of Chicago in the Great Lakes region fell 7.75, port Norfolk on the Atlantic coast 584.00 down 8.008 A strong rebound in soybean prices in recent days should be in place, according to the report of oil world Although the total soybean production in South America may be 5-6 million tons lower than expected due to drought, the overall global soybean supply is still in excess 9 As the price of agricultural products declines, it is expected that Argentina's export growth will slow down this year It turned out that the weak Argentine Peso had predicted a sharp rise in exports Agricultural exports account for more than 50% of all exports As a result, any decline in exports will put the country in trouble as it prepares to repay its foreign debt, analysts said The government expects exports to grow by 3% - 5% in 2005, down from 14% and 17% of the growth in the previous two years 10 According to the data released by secex, Brazil's foreign trade department, the average daily income of Brazil's soybean exports as of February 21 was US $20.53 million The cumulative average daily export revenue so far in February is $22.231 million, up 32.9% from $16.725 million in January and down 2.9% from $22.885 million in February 2004 11 Demand for canola oil from the European bio diesel industry is likely to continue to grow as demand from the food industry has been determined, the European Union of vegetable oil industries said on Wednesday Pascal cogels, fediol's director, believes that the EU will fill the gap in rapeseed oil supply in the next few years by increasing or consolidating imports of other oil and bio fuel raw materials 12 Indian soybean meal traders expect that some Asian buyers will lose interest in Argentine and American soybean meal shipments if the market price rise in Chicago continues this week Earlier this week, the Chicago Board of trade (CBOT) soybean and soybean meal futures hit a five-month high, boosted by the technical activity of buying triggered by a weaker dollar Brazil's drought also supported the market 13 Argentina's spot soybean prices closed flat for the second consecutive trading day on Thursday, when demand from local crushers offset the weakness of CBOT soybean futures In Rosario, Argentina's main agricultural product market, soybean prices closed at 460 pesos per ton (about $157) Trading volume slightly increased to 25000 tons, 20000 tons last day In Rosario port, The price of soybeans delivered in May fell to US $151 / 154 per ton due to the weakness of CBOT soybeans contract, and it was reported at US $153 / 155 on Wednesday, with a volume of about 20000 tons