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Heavy untold pressure on soybean futures rose by big tree
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Heavy untold pressure on soybean futures rose |
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Business,Business News,Business Opportunities
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Stimulated by the supply and demand fundamentals, domestic soybean (information market) futures prices rebounded slightly. However, analysts expect the U.S. soybeans will exceed a record 3.2 billion bushels, the market trend of the late great pressure.
25 days, Chicago Board of Trade (CBOT) soybean futures prices at over 10 dollars. Day, Dalian Commodity Exchange soybean futures prices were mixed, the major 1005 contract rose 8 yuan to close at 3,719 yuan / ton.
Dealers international demand for U.S. soybean prospects, particularly from China's demand prospects. It is reported that China's soybean growing areas of drought as a threat, China in the next two months or to a large number of imports of U.S. soybeans. 5 trading days last week, the U.S. Department of Agriculture Private exporters reported daily exports of soybeans to China.
U.S. Department of Agriculture released the latest weekly crop progress report showed that as of August 23 in the week, the U.S. soybean growth rate of 69% excellent, compared with the previous week increased by 3 percentage points. However, the soybean pod was 85% lower than the five-year average of 7 percentage points. Soybean growth behind schedule, the market worried about an early frost may affect soybean maturity, and ultimately affect the yield. Both supply and demand factors that ultimately promote the soybean price since Aug. 13 has been back above 10 dollars.
In addition, China's soybean growing areas of drought, production could be affected, the recent large purchases of U.S. beans, U.S. soybean exports of strong new work. As of Aug. 13 week, soybean export inspections report showed inspected for export totaled 7.579 million bushels, up slightly from the previous week's 6.654 million bushels.
As domestic soybean spreads, China's imports of soybeans this year, the number of high. Customs data released Monday, July soybean imports 4.39 million tons, an increase of 25%. From January to July, China's total soybean imports 26.48 million tons, an increase of 28% over the same period, but in August of about 2.8 million tons of soybean to Hong Kong around September soybeans Hong Kong and Hong Kong is tentatively forecast at 250 million tons, the port market outlook soybeans is expected to reduce the pressure on soybean prices will continue to provide some support.
However, the domestic soybean producing little change in the spot market price, by the State Reserve and the continued sell-off rumors affected countries may subsidize the oil plant, oil plant and traders watching the whole psychological strong, thin trading. State Reserve soybean auction will be Aug. 26 to continue the auction total is still 500 thousand tons.
Date, 5 countries have completed the auction of the reservoir is soybeans, the actual volume of only 20,300 tons, turnover rate, the auction price that the market generally unacceptable. The current state-subsidized oil factory has not been confirmed the rumor, the market is expected to auction 26 difficult situation has obviously improved, little impact on the spot market.
Beijing Oriental general manager Huang Dejun Agricultural Advisory Iger expects U.S. soybean production this year will exceed a record 32 million bushels. Although the domestic soybean planting has been the main producing areas suffer from the effects of drought and floods cut a foregone conclusion, but is much larger than the U.S. soybean yield increased levels of domestic production, which is caused by lagging domestic soybean futures prices rose on the metal of the main reasons for price . In addition, a large number of national reserves soybeans, but higher than the market price due to return to the market can not be effective, from the side reaction of the company for suspected soybean prices higher. "The new quarter in the U.S. soybean yield forecast, the market outlook, putting pressure on soybean prices."
<< I am an expert from China Manufacturers, usually analyzes all kind of industries situation, such as yankee bird feeders , bird bath solar.
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