Japan will be looking for soybeans this week
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Last Update: 2002-07-02
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Source: Internet
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Author: User
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Introduction: Dow Jones, Tokyo, July 1 news: Asian soybean traders said Monday that Japanese oilseed refineries are considering purchasing September October soybeans this week, either from the United States or Brazil On Monday, the CNF premium for U.S soybeans shipped in September was 135 cents per bushel on CBOT's November soybean price, up from about 130 cents last week CNF is the cost and freight price Brazil's soybeans have a premium of more than 10 cents per bushel over American soybeans A soybean trader said Japanese buyers could buy one or two shipments of Brazilian soybeans from the second half of September to the first half of October if the price gap between Brazil and the United States narrowed He estimates that Japanese mills have bought 700000 tons of Brazilian soybeans so far this year, roughly the same as the 706000 tons purchased in the same period last year According to the Ministry of agriculture, Japan's demand for soybeans is 3.93 million tons this year, compared with 3.81 million tons last year.
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