Newsletter summary
Us soybean export sales increased by 5% compared with last week.FunrouletteonlinegamedownloadHowever, the shipment volume decreased by 42% compared with the previous month. Brazilian soybean exports are expected to fall to 13.83 million tons in May. Domestic soybean meal prices may fluctuate strongly in the short term, while corn prices are expected to fluctuate strongly.FunrouletteonlinegamedownloadRisk neutral.
Text of news flash
[the export sales of soybeans in the United States 2023Universe 24 are growing steadily]
According to the latest data, the USDA's export sales report for the week of May 16, 2024 revealed a net increase of 27% in soybean export sales in the United States in 2023 prime 24.Funrouletteonlinegamedownload.940000 tons, up 5 per cent from the previous week, but 15 per cent lower than the previous four-week average.
[U.S. soybean sales increased significantly in 2024x25]
The report also points out that soybean sales increased by 6% in 2024 in 25.Funrouletteonlinegamedownload. 550000 tons, with new sales of 71200 tons.
[shipments of US soybean exports declined compared with the previous month]
It is worth noting, however, that US soybean export shipments this week were 258800 tons, down 42 per cent from the previous month and 28 per cent lower than the previous four-week average.
[Brazilian soybean exports are expected to decline in May]
Brazil's National Association of Grain exporters expects soyabean exports in May to be 13.83 million tons, down from an estimate of 14.13 million tons a week ago.
[floods in Rio Grande state in southwest Brazil affect crop harvest]
At present, Brazil's Rio Grande do Sul is affected by floods and crops are harvested slowly, which may have an impact on the market.
[sowing speed up in the United States]
The progress of sowing in the United States has reached 52%, a significant improvement from the previous week, and the market continues to pay attention to this.
[the rising water supply in Brazil supports the soybean meal market]
Under the background of rising water supply in Brazil, the soybean meal market has been obviously supported, but the inventory of downstream oil plants has increased and spot demand is still slightly weak.
[insufficient domestic demand affects spot performance]
The performance of the spot market is lower than that of the market, and it is expected that under the support of rising water, soybean meal prices will continue to operate in a strong and volatile manner in the short term.
[international corn yield forecast is lowered]
In its monthly report, the International Grain Council downgraded its forecast for global corn production in 25th year to 1.22 billion tons and raised its forecast for global corn consumption to 1.225 billion tons.
[growth in US corn export sales]
According to data released by the USDA, net sales of corn exports in the United States in 2023 were 911000 tons in 24, up from the previous week, and net sales of corn in 2024 were also up.
[corn surplus grain decreased in Northeast China]
In the domestic market, the grass-roots surplus grain in Northeast China continues to decrease, traders are more willing to raise prices, and some traders choose to hold grain for an increase.
[pig price rebounds to improve feed demand]
The rebound in pig prices has helped to improve feed demand, although the southern market faces competition from brown rice and wheat, feed companies still focus on rolling replenishment, and procurement demand remains stable.
[corn price or shock operation is strong]
Taking into account the delivery rhythm of traders, the willingness of downstream enterprises to build a warehouse, as well as imported grain and policy adjustments and other factors, corn prices may continue to fluctuate in the short term.