The economic crisis in South America finally dawned, and the soybean base in the US Gulf plummeted
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Last Update: 2002-08-09
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Source: Internet
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Author: User
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Introduction: soybean barges and CIF basis fell sharply in the US Gulf of Mexico on Thursday due to the recent sharp decline in export demand and the pressure on the new bean market At present, the CIF basis price of us soybeans in Meiwan is based on the price of soybeans in November plus 50 cents, which is 12 cents lower than the base price on Wednesday! The reason for the collapse of soybean export price comes from several aspects First, soybean harvesting in the south of the United States is approaching, while that in the north of Mississippi is only a few weeks away And the global soybean supply tension began to ease, mainly because Brazil finally got the IMF's life-saving loan In sharp contrast, soybean prices rose in Argentina on Thursday, driven by strong demand from exporters and local mills.
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