US soybean price rises, Japan begins to pay attention to Brazil soybean

Introduction: Tokyo, July 8 news: trading Monday said that the rising price of chromium in U.S soybeans has upset Japanese soybean importers, so they may buy Brazil soybeans on September shipment In late June, Japanese oilseed crushers purchased imported soybeans in August, but due to the high export price of the United States, they did not sign the import order in September On Friday, the U.S Gulf region's FOB basis price for soybeans shipped in the first ten days of September was 22 cents higher than the previous week's price, while the latter one was 18 cents higher at 67 cents Although the Chicago floor soybean contract is rising, the basis price is also rising as exporters and processors have been looking for Chen bean supply and farmers have suspended sales On Monday, Japan's trade bank also picked up the U.S C & F premium for early September soybeans, at 160 cents, from 135 to 140 cents the week before After August, when exports peak in the southern hemisphere, Japanese purchases are usually focused on us oilseeds But another trader believes that Japanese crushers may also turn to Brazilian soybeans, which have recently raised the price premium relative to us soybeans "Now Brazil's soybean shipment price in September is basically lower than that in the United States, depending on the port of shipment," the trader said So far this year, Japan has purchased 700000 tons of Brazilian soybeans, basically the same as the purchasing volume of 706000 tons last year One merchant estimates He thinks Japan will buy two or more ships of soybeans between the end of September and the beginning of October Interest in Brazilian soybeans has been high since Japanese Importers last year found protein levels in US soybeans to be below normal The Ministry of Agriculture estimates that 3.93 million tons will be needed to crush soybeans this year, compared with 3.81 million tons last year Last year, Japan imported 4.83 million tons of soybeans for food and feed, of which 3.65 million tons came from the United States (author:) share to feed Weibo share to: