Articles By Eduardo Tinti
Chinese state agencies will hold an auction for imported soybeans on Thursday November 21, offering around 90,000 tonnes for sale, according to a note released by the National Grain Trade Center (NGTC) on Tuesday November 19.
Chinese state agencies held an auction for imported soybeans on Thursday December 14, where 89,896 tonnes of soybeans were offered but no sales were made, sources have told Fastmarkets.
A state auction offering large soybean volumes previously scheduled for Tuesday November 12 has been delayed or canceled in China – although this has not yet been officially announced- sources told Fastmarkets.
Soymeal futures spiked along with soybeans after the USDA released the November edition of its World Agricultural Supply and Demand Estimates (WASDE) report on Friday November 8, cutting back US soybean production figures.
President-elect Donald Trump’s victory in the US could bring different outcomes across the soybean complex. A potential trade war with China could have several impacts on global commodity markets, especially beans, with Chinese demand potentially shifting to other origins such as South America, sources have told Fastmarkets.
Soyoil premiums in Argentina have surged since the beginning of the month, to trade at one of the highest levels on record since Fastmarkets started following the market in 2018, with volumes for nearby deliveries pressured by Indian demand and a slow pace of farmer sales, according to sources.
US soybean crush volumes in September 2024 jumped to 170.32 million bushels, surpassing volumes crushed both in the previous month and in September 2023, as well as exceeding the average trade estimate, according to data released by the National Oilseed Processors Association (NOPA) on Tuesday October 15.
US and global balance sheets remained mostly unchanged for soybean and downstream soy products in the USDA’s World Agricultural Supply and Demand Estimates (WASDE) monthly update released on Friday October 11, but futures across the complex fell after the release.
Dry bulk freight rates for Panamax vessels in the Atlantic picked up in the week to Wednesday October 9 amid volatile crude oil prices and limited tonnage availability.
China will open a probe to consider anti-dumping measures on imports of Canadian canola (rapeseed), a representative of China’s trade ministry said in a note on Tuesday September 3. The move could have consequences for the global supply-and-demand balance in vegoils.
Brazil is likely to import Argentine soyoil this year amid a tight domestic supply and demand balance for soybeans and downstream products, sources told Fastmarkets.
Water levels in the crucial northern rivers of Brazil have reportedly hit a critical low, but market sources believe this should not hurt a lower export program for corn and soybeans.
Fastmarkets has corrected its assessment of the AG-SYB-0082 crush margin, US soy M1, which was published incorrectly on Monday August 12.
Farmers in Brazil’s largest agricultural-producing state, Mato Grosso, sped up the pace of forward sales of soybeans and corn in July, backed by higher prices, the need to free up storage and the need to raise funding to lock in input costs for soybean planting, Mato Grosso’s agriculture state agency, IMEA, said late on Monday August 12.
The Argentine Labor Ministry issued a compulsory conciliation on Monday August 12 halting the week-long strike held by oilseed crushing industry workers that has been hampering the country’s crush activity and export sector since August 6.
Soyoil and soymeal futures trended lower after the USDA released its monthly World Agricultural Supply and Demand Estimates (WASDE) report on Monday August 12, despite broadly unchanged balance sheets while upstream soybean ending stocks were increased significantly.
Argentina’s soybean complex exports have started the crop year at a strong pace despite low farmer sales, relying on a larger crop and imported soybeans.
The average trade guess expects the USDA to increase US 2024/25 soybean production estimates with higher output and lower exports feeding into higher ending stocks for both old and new crops, a Fastmarkets pool that heard eleven traders and analysts showed on Friday August 9.
Dry bulk freight rates for Panamax vessels continued to edge lower in the week to Wednesday August 7 due to excess tonnage and lackluster demand in the Atlantic basin.
Brazilian soybean exports reached a record 11.2 million tonnes in July, up by 16% year on year from 9.69 million tonnes, supported by strong demand from China. Corn shipments totaled 3.5 million tonnes in the same month, down by 16% from a year earlier, according to customs data released on late Tuesday August 6.