Quotes for soybean strengthened due to the continuation of procurement from China

2020-07-23 13:17:25
Machine translation
Quotes for soybean strengthened due to the continuation of procurement from China

soybean Futures on the stock exchange in the US yesterday showed a small growth despite the continued deterioration of political relations between the U.S. and China, due to the ongoing procurement of large amounts of U.S. soybeans by state Chinese companies.


Yesterday, the U.S. closed the Consulate of China in Houston, and in response, China has closed the U.S. Consulate in Wuhan, which increases tensions between countries and can lead to a decrease in purchases of agricultural products from the United States.


Traders continue to capture growth in export sales of soybeans to China this week reported on the sale of 453 thousand tons including 387 tonnes of the new harvest. Today, the Ministry of agriculture of the USA will publish data on export sales for the week, which traders hope to see sales of soybeans at 300-700 thousand MT of old crop and 1-2 million tonnes of new crop soybeans for the week.

the growing tension between the countries leads to the fact that buyers from China are more actively buy U.S. soybeans for delivery in September and December, until a Brazilian soybeans new crop.


the September soybean futures on the stock exchange in the United States yesterday increased of 1.1$ / ton to 328,46 $/Hm and the November 0.92 $/t to 328,82 $/t


the Decline in soybean stocks in Brazil increased prices of Brazilian soy to 380-385 $/t FOB despite the fact that American soy is offered at a price of about 365-375 $/MT FOB


According to the Department of foreign trade of Brazil for the period 1 to 19 July of the country to foreign markets have been shipped of 6.18 million tonnes of soybeans compared to 9,36 million tons exported in the same period a month earlier (-34% mom).

by the end of July, the export of Brazilian soybeans is projected at 8.5 million tonnes, which is 7% higher than the figures of the corresponding month in 2019 against the backdrop of high demand from China.

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