International soybean market news on Wednesday

Introduction: 1 On Tuesday, CBOT related agricultural products and palm oil futures closed: soybean may contract (2005) closed at 627'2 cents, up and down: 0'6 cents / bushel soybean oil may contract (2005) closed at 22.58 cents, up and down: 0.03 cents / pound soybean meal may contract (2005) closed at 187.2 US dollars, Gains and losses: - 0.1 US dollars / short ton wheat may contract (2005) closed at 344'4 US cents, gains and losses: 2'0 US cents / bushel corn may contract (2005) closed at 214'0 US cents, gains and losses: - 0'4 US cents / bushel palm oil may contract (2005) closed at 1406 ringgit, Up and down: - 13 "ringgit / ton 2 Safras according to IEA statistics, soybean prices in Sao Paulo state in Brazil have increased by 34.8% in the past four weeks, while the overall price of all commodities has also increased by 5.1% in the past four weeks 3 According to the news of oil world, from July to December 2004, the global export of rapeseed and rapeseed oil reached a four-year high According to the data of the magazine, the export volume of major exporting countries was 2.85 million tons At the same time, in January, 25 countries in the European Union saw a year-on-year increase of 8% A spokesman for envirologix, the US manufacturer of diagnostic testing tools, said Monday that it had introduced a method to test soybean rust Soybean rust, a fungal disease that can reduce soybean yield by up to 80%, first appeared in the United States in November last year and was eventually confirmed to have been found in nine southern states U.S farmers are worried that the wind borne fungal disease will spread to centers in the Midwest soybean production belt in the spring and summer of this year 5 As of March 18, Brazil's soybean farmers had sold 48% of their 2004 / 05 (October / September) soybean harvest, down from 61% in the same period last year, according to celeres, a non-governmental analysis agency, on Monday The proportion sold a week ago was 45% The average proportion sold in the past five years as of March 18 was 52% At present, the proportion sold in the central and western regions is 54%, Only 38% in the south 6 According to the data of oil world, due to the increase of global demand for palm oil, the main domestic production also increased In 2004, the output of six countries in central and South America increased rapidly to 1.48 million tons 7 The following is the U.S No.1 soybean export quotation (unit: US cents / bushel) delivered within 30 days at the U.S port on March 22: Port quotation and yesterday's change Louisiana bay port 655.25-657.25 fell 0.25-up 0.75 Toledo port 603.25-606.25 in the Great Lakes region rose 0.75 Chicago port 612.25-623.25 in the Great Lakes region rose 0.75 Port Norfolk, on the Atlantic coast, rose 0.008 According to the report released by the counselor of the US Department of agriculture on the website of foreign agricultural services, the livestock and edible soybean sector in Malaysia has developed steadily It is expected that the soybean import of Malaysia will increase by 9% to 600000 tons in 2004 / 05, among which the soybean supply of the US will reach 200000 tons Soybean meal imports are expected to grow by 6% - 7% over the same period 9 According to the forecast made by the market analysis agency under the Ministry of agriculture and food of Canada, Canadian vegetable oil export in 2005 / 06 crop year will slightly increase compared with the expected level in 2004 / 05, but still lower than the level in 2003 / 04 Canadian vegetable oil exports began on August 1 10 Ukraine, one of the world's largest producers of sunflower seeds, may increase its production of sunflower seeds to 3.64 million tons in 2005 from 3.325 million tons in 2004, analysts said on Monday According to the proagro agricultural consultancy, Ukrainian rapeseed production will consolidate to 198000 tons, up from 135000 tons in 2004 11 The federal government of India plans to produce 27.8 million tons of Oilseeds in the 2005 / 06 fiscal year and 24.8 million tons in the 2004 / 05 fiscal year, the economic times reported on Tuesday India's fiscal year is from April to March "Is the 2005 / 06 target set by the government too optimistic?" the report said It added that the target for oil seed production in 2004 / 05 was 26.2 million tons, while the actual production was only 24.8 million tons 12 Spot soybean prices in Argentina fell for the fifth consecutive trading day on Tuesday, traders said, as local buyers followed the decline of CBOT soybean futures before closing, but volume remained firm In Rosario, the main soybean export port, soybean prices fell 3.5 pesos to 485 pesos per ton (US $166) Volume again held steady at 30000 tons