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Key Market Observations 16 September 2021
Protein Markets Chinese crushers bought 6-7 cargoes of Brazilian beans to cover shortfalls due to the issues in the US Gulf, PNW supplies were already well sold across this period. Canadian canola crop forecast to fall to 12.78MMT vs 19.49MMT last year. Additional to the lower yield poor quality and low oil levels is causing…
Key Market Observations 23rd June 2021
Protein Markets US soybeans 97% planted vs 94% average; crop currently rated 60% good to excellent (G/E). Soybean markets awaiting next week’s acreage report as with a portion of the crop under severe drought markets is anticipating an increase in USDA planted area to offset. Canola markets remain hot as Canadian prairies miss recent weather…
Key Market Observations 12th May 2021
Protein Markets Soybeans top $16 for the first time since 2012. US Soybean planting is now 42% complete, vs 22% average. China bought two beans cargoes yesterday for July, one Argentine, one Brazil. WASDE report due out overnight with forecast carry out stocks/plantings. The average trade guess is less bullish then the last report. Brazil’s…
Key Market Observations 5th May 2021
Protein Markets Argentina’s names new trade minister who extends Parana River dredging agreement by 90days to allow continued export flow. US soybean planting 24% done vs 11% average as the large crop states of Iowa and Illinois were both over 40% seeded. Commodities surge to highest levels seen since 2011, led by soybean oil as…
Key Market Observations 21st April 2021
Protein Markets Brazil soybean harvest now 91% complete with 6% harvested this week. China’s soybean crush margin collapses on worries over feed demand. The re- emergence of swine fever in some regions has seen some farmers slash herds slowing recovery. Pork imports through March hit an all-time record. Soybean/Rapeseed and Rice bran extract. Indian oilseed…
Key Market Observations 14th April 2021
Protein Markets Brazil the No. 1-growing soybean nation will temporarily reduce the mandated diesel inclusion to contain 10% biodiesel down from1 3% previously. Chinese Customs administration said the country imported 7.77mln tonnes of soybeans in January and have imported 47MMT YTD vs 41.8MMT last year. Chinese domestic pork prices are down 40% since the beginning,…
Key Market Observations 7th April 2021
Protein Markets Last week’s USDA report threw up a number of planting intention surprises. The soy planting number at 87.6 million acres was over 2 million acres lower than the average trade guess. Markets moved up limit on the Wednesday post report before giving back half of the gains over the next two nights.…
Key Market Observations 24th February 2021
Protein Markets China sees a full recovery of pig herd back to pre-2017 levels by June of this year, new rumors of foot and mouth disease will have market cautious of any further disruption. Brazil’s crop forecaster Agroconsult raised its estimate for 2020-21 season by 1.6m to 134MMT of Soybeans following recent crop tours. Delays…
Key Market Observations 17th February 2021
Protein Markets Good rainfall forecast across northern and central Brazil this week. Argentina/South Brazil and Uruguay all forecast dry for the next two weeks. Despite recent rainfall in Argentina many areas still showing signs of stress from dryness. Dry forecast will add stress to late growth of crops. Pressure continues to mount on Brazilian farmers…