The reason why Brazil's soybean export peak season is not prosperous is that China has not entered the market

Introduction: osterdowjones, April 16 news: April was originally the peak season for Brazil's soybean export, but what puzzled Brazilian traders and analysts was that Brazil's soybean export declined instead The reason was attributed to China's lack of market entry, which led to the limitation of international market demand In addition, local farmers were reluctant to sell at the current price Traditionally, April is the busiest season in the port of Paranagua, but on Tuesday, only one ship of soybeans was waiting to be loaded, three ships were waiting for soybean meal to be transferred, and there was no 60 mile long line of trucks in the port as in previous years As of the end of March, the quantity of soybeans shipped out of the port of Paranagua was roughly the same as that of last year, but there was no sign of acceleration in the current shipment As of April 15, the shipment of soybeans was 30% behind that of last year, which was 1.05 million tons Exporters shipped more soybeans from other Brazilian ports, such as Santos, which shipped 870000 tons more soybeans in the first quarter of this year than Paranagua But even Santos has seen a slide in soybean shipments in recent weeks Traders said international demand constraints were the main reason for the weak soybean season In the second quarter of this year, China imported a lot of Brazilian soybeans, but since March 20, no Brazilian soybeans have arrived at Chinese ports In addition, Brazilian farmers are not eager to sell soybeans, as 40% of last year's output has been sold, most of it at the peak of prices in the middle of last year Local analysts also said that since domestic prices are higher, why rush to export? But the supply of soybeans is still sufficient By last week, 70% of Brazil's soybeans in 2001 / 02 had been harvested, slightly higher than last year A local business daily reported that Cargill's purchase volume is also slowing down, with only 15000 to 20000 tons of soybeans purchased per day in the inland area, compared with 60000 tons in the same period of previous years Most people expect Brazil's soybean exports to rise to over 17.7 million tons in 2002 / 03, up from 15.5 million tons last year, but to achieve this goal, it is clear that trade volume must start to accelerate An exporter from a local multinational trading company said there were signs that China would re-enter the market for procurement, so things would turn around and return to normal in May.