A brief report on the international soybean market on March 16

Introduction: 1 On Tuesday, CBOT related agricultural products and palm oil futures closed: soybean may contract (2005) closed at 681'0 cents, up and down: 25'0 cents / bushel soybean oil may contract (2005) closed at 24.23 cents, up and down: 0.55 cents / pound soybean meal may contract (2005) closed at 202.2 US dollars, Gains and losses: US $6.50 / short ton wheat may contract (2005) closed at 368'0 cents, gains and losses: 14'0 cents / bushel corn may contract (2005) closed at 228'4 cents, gains and losses: 7'4 cents / bushel palm oil may contract (2005) closed at 1474 ringgit, Up and down: 38 "ringgit / ton 2, oil world" analysis report pointed out that in recent weeks, the global soybean supply forecast has been constantly lowered The latest forecast report of the magazine said that the global soybean production was 241.6 million tons, down 4 million tons compared with the forecast two weeks ago But at the same time, the magazine believes that this year's global soybean production will still exceed the previous year's 30 million tons, and will exceed the total demand of 14 million tons 3 In the year from August 2005 to July 2006, the ending inventory of eight major grains and Oilseeds in Canada will slightly increase, but still lower than the previous year's level, according to a report released by the Ministry of agriculture, agriculture and food on Monday According to the forecast data of the Canadian government, the ending inventory of eight major cereals and Oilseeds in 2005 / 06 is expected to be 14.945 million tons, higher than the estimated 14.62 million tons in February 4 According to the survey data of oil world, with the decrease of 1.7% from October to December in 2004, the global soybean squeezing began to show a recovery growth, and a good growth momentum appeared in January The magazine believes that the squeezing volume from January to March will increase by 6% year on year 5 According to the data released by the UK's domestic food administration on Monday, in December 2004, the UK imported 105007 tons of soybeans, which is 20.8% lower than the previous month's level of 86884 tons From July to December 2004, the total imports of soybeans in the UK were 413175 tons, 23.1% lower than 537362 tons in the same period of last year 6 On Tuesday, the federal government of India raised the benchmark price of imported soybean oil from US $485 / ton to US $535 / ton after oil mills complained that the benchmark price was too low The federal government of India's benchmark for calculating import tariffs is not the CIF Cost of soybean oil, but the benchmark price set by the state The federal government adjusts the benchmark price when the actual international price of edible oil fluctuates 7 The following is the U.S No.1 soybean export quotation (unit: US cents / bushel) delivered within 30 days at the U.S port on March 15: Port quotation and yesterday's change: Louisiana bay port 713.00-715.00 increased by 22.00-23.00; Toledo port 658.00-660.00 in the Great Lakes region increased by 23.00-24.00; Chicago port in the Great Lakes region increased by 23.00-24.00 666.00-677.00 up 25.00; port Norfolk, on the Atlantic coast, 691.00 up 25.00 8; Malaysia exported 560893 tons of palm oil during March 1-15, down 3.1% from 579005 tons in February, its said on Tuesday Traders said the forecast was at the low end of the market's forecast range of 550000-600000 tons 9 Spot soybean prices in Argentina rose to an eight month high on Tuesday, following the CBOT rally In Rosario, the main soybean export port, soybean prices rose to 530 / 535 pesos per ton (US $182 / 183) from 510.6 pesos on Monday, the highest since July 7, 2004 Trading volume rose to 40000 tons from 25000 tons Soybean prices delivered in May rose by US $7 to US $183 per ton, Trading volume rose sharply from 5000 tons on Monday to about 40000 tons.10 Malaysia exported 541834 tons of palm oil between March 1 and 15, down 0.6% from 544861 tons exported in the same period in February, the shipping survey agency SGS said on Tuesday This figure is lower than 560893 tons published by its, another shipping survey agency