Protein Markets Argentina, the world’s top soybean-oil exporter has avoided shipping quotas and higher taxes on soybean oil, the oilseed processors plan to spend $190 million over the next year to subsidize local cooking-oil prices. Drier weather over the past several days has allowed some minor dryness to develop in southern growing areas in Argentina…
DetailsProtein Markets Chinese demand continues to surge higher post the pig herd recovery and consumption of surplus stocks. Soybean markets gave up almost USD50/st in the last week as a better rainfall forecast and muted Chinese buying saw the market take a breather. Wet weather in Brazil is delaying the harvest of the early Soybean…
DetailsProtein Markets Chinese analyst Cofeed called last week’s crush in China 1.98 mln tons. The Chinese National Bureau of Statistics called the pig herd in China at the end of December 407 mln head, up from 370 mln head at the end of September. This is now over 80% of pre swine fever levels. Argentina…
DetailsProtein Markets Argentine strikes are over however the market will spend the rest of the season trying to play catch up from lost production and exports. Soybeans traded over six-year highs on fears that drought in Argentina will cut production at time when China’s demand is booming. USDA report saw Soybeans down half a bushel…
DetailsProtein Markets Argentine strikes still ongoing; now 12 days in, with no clear view when the issues will be resolved. Soybean futures extended a rally to the costliest since 2014 as Argentine strikes and dry South American weather amplified global-supply concerns. Soybean and oil exports estimated at around only 20% of December commitments due to…
DetailsProtein Markets Argentine soybean crushers pulled their meal and oil offers from the spot market as a strike by the oil workers union continues,ABIOVE forecast the Brazilian bean crop at 132.6mln tons Sunflower exports from Russia season to date reached 400,000 tons, which is 64% more than the previous season. This is the highest level…
DetailsProtein Markets Soybeans had their first weekly decline since October. The DDGS/soymeal ratio currently sits at 0.49, above the average of 0.42. The DDGS/cash corn ratio is near 133% this week, up from the prior week and above the average of 109%. Some DDG feeders have been switching to higher grade #1 corn due to…
DetailsProtein Markets US soybean harvest is now at 96% vs 92% harvested practically complete in all areas The US Department of Agriculture released the latest supply and demand estimates (WASDE) lowering soy harvest estimates to 4.17bn bu (113MMT) down 2.34% from last month Brazilian soybean crop is still forecast to hit a record 134.95MMT up…
DetailsProtein Markets US soybean harvest is now all but complete at 92% vs 87% last Monday as farmers try to get ahead of wet weather forecast for late this week Brazil has caught up in soybean plantings at 83% in Mato Grosso right on the 5 year average and nationwide at 56% vs 58% last…
DetailsProtein Markets US soybean harvest is nearing completion at 87% vs 83% with fields to be mostly completed in the next two weeks with dry weather on the forecast US soybean acres are set to expand next year to 89 million acres up from current estimate of 83.1 million as tight global supplies will likely…
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