ITS CPO export up 3.68% to 589,010 tonnes for the period of 1~15 Jan 2011.
SGS CPO export up 3.7% to 568,535 tonnes for the period of 1~15 Jan 2011.
Soy product futures ended mixed, with soyoil divorcing itself from weakness in the rest of the complex on solid underlying global vegoil demand. Soymeal futures ended lower, succumbing to weakness in soybeans and adjustments in the meal/oil spread relationship. CBOT March soyoil ended 0.28 cent, or 0.5%, higher at 57.55 cents per pound, and March soymeal traded $4.70, or 1.2%, lower at $383.40 a short ton. (Source: CME)
Brazil's Advance Soy Sales Reach 44% Of 2010-11 Crop (Source: CME)
Brazilian farmers have sold 44% of their 2010-11 soy crop compared with 25% one year ago, consultancy Celeres said in a report. The figure is a rise from 42% one week ago, according to Celeres, which is based in Uberlandia. Brazil growers are selling more of their crop in advance this year though the planting of the 2010-11 crop was done at the same time as the year-earlier seeding, according to Celeres in its weekly report. The estimates released are for the period ended Jan. 14. Farmers are selling more in advance this year "basically because of the good prices," Leonardo Menezes, an analyst for Celeres, told Dow Jones Newswires by telephone from Uberlandia last week. The soy farmers reduce their risk by selling more of their crop in advance, he said. The consultancy, however, recommends that new sales should be made only to cover liabilities as "soy will be able to maintain prices at high levels" during 2011.
"Our strategic recommendation is to immediately suspend sales," Celeres said in its report this week. The consultancy said growers should hold their beans for probable new rounds of price increases. Brazil, the world's second-largest soy grower after the United States, finished seeding its 2010-11 crop late in 2010, Celeres said earlier. Harvesting began in Mato Grosso, Brazil's largest soy-producer state, earlier this month. Collecting the country's crop ends in May with the harvest in Rio Grande do Sul, Brazil's southernmost state and the country's third-largest producer of the oilseed. Celeres estimates the 2010-11 Brazilian soy crop will reach 68.1 million metric tons, 0.6% below the figure for the year-earlier crop. The estimate is unchanged from its forecast made in December. Brazilian soy exports set a new record in 2010 with China responsible for almost 66% of the shipments, Celebes said, citing a government report in Brasilia, the federal capital.
Brazil exported 19.1 million tons of soybeans to China last year, Celebes said in the report, citing a Brazilian secretariat that compiles trade data.
Palm rebounds from one-mth lows on supply tightness
JAKARTA, Jan 18 (Reuters) - Malaysian palm oil bounced from one-month lows hit earlier as persistent worries that demand will outstrip supplies, buoyed prices. "The weather is supporting the market, followed by good 15-day export numbers," said one Malaysian trader.
Brazil soy crop seen heading for record - AgRural
SAO PAULO, Jan 17 (Reuters) - Brazil's 2010/11 soybean crop is expected to reach a record 69.65 million tonnes, after good rains and a record area planted to the oil seed prompted grains analysts AgRural to raise their estimate on Monday.
In December, AgRural put the new crop at 69.43 million tonnes, greater than the current record 68.7 million tonnes harvested in 2009/10.
Rains bring relief to Argentine soy, risk persists
BUENOS AIRES, Jan 17 (Reuters) - Weekend rains over Argentina's main soy-farming region brought relief to drought-stricken crops, but more rain is needed to halt yield losses that are increasing every week.
Argentina is one of the world's biggest exporters of soy and corn, but scarce rain caused by the La Nina weather phenomenon has driven down harvest estimates and boosted global grains prices in recent months due to supply fears.
No comments:
Post a Comment