【Related News】
1. The US Department of Agriculture's (USDA) export sales report released on Thursday showed that in the week ended April 20, the US's current annual soybean export sales in the current market increased by 808,100 tons and new sales of 886,200 tons.
2. Growers believe that due to the uncertainty in soybean prices, the number of soybeans planted in 2017/18 in the state of Mato Grosso, Brazil ’s number one soybean production area, is not expected to expand.
3. According to the results of a survey, the US Department of Agriculture (USDA) 's monthly supply and demand report released next Wednesday will show that the global year-end soybean stocks in 2016/17 are expected to be 87.533 million tons, and the USDA's April estimate is 87.41 million tons. .
4. The United Nations World Meteorological Organization (WMO) said on April 28 that the El Niño phenomenon, which usually brings droughts and floods, has a 50 to 60% chance of recurring this year.
5. The Buenos Aires Grain Exchange said in a report on Thursday that good weather in Argentina has helped soybean harvest increase by 16.8% in the past seven days, and 55% soybeans planted early have been harvested.
【Soybean meal market】
CBOT soybean futures closed slightly lower on Thursday, dragged down by the general selling pressure in the commodity market. The CBOT July soybean contract closed down 1 cent at $ 974.25 per bushel. July soybean meal futures closed down $ 0.2 at $ 318.60 per short ton. . Today's consecutive soybean meal closing price rose, with the 1709 contract closing at 2,841 yuan / ton, down 23 yuan / ton, or 0.80%.
【Soybean meal spot and basis price quotation】
Today, the spot market price of soybean meal in coastal areas fell by 10-30 yuan / ton. Among them, the soybean meal price of oil plants in Yantai, Shandong: 43% protein: 2960 yuan / ton, down 20 yuan / ton. Soybean meal price in Tianjin oil market: 43% protein: 3020 yuan / ton; Soybean meal price in Qinhuangdao oil factory: 43% protein: 3000 yuan / ton, down 20 yuan / ton. The price of soybean meal in oil factories in Dongguan, Guangdong: 43% protein: 2970 yuan / ton, down 10 yuan / ton. Soybean meal price of foreign-owned oil factories in Fangchenggang, Guangxi: 43% protein: 2,960 yuan / ton, down 30 yuan / ton. Soybean meal price of oil mills in Zhoukou area: 43% protein: 3020 yuan / ton; down 20 yuan / ton.
Today's soybean meal basis price is basically stable. Among them: Rizhao 43% protein: June-July basis difference of 1709 + 80 yuan / ton. Zhenjiang: 43% protein: May base basis 1709 + 100 yuan / ton; June-September base basis 1709 + 140 yuan / ton. Qinzhou: 43% protein: May-June basis 1709 + 100 yuan / ton. Xinzheng: 43% protein: May basis 1709 + 240 yuan / ton; June-September basis 1709 + 200 yuan / ton. Wuhan: 46% protein: May basis basis 1709 + 150 yuan / ton.
【Analysis of market outlook】
CBOT soybean futures closed slightly lower on Thursday, due to the general drag on the commodity market. Sowing is currently underway in the Delta region of the United States. The sowing progress is earlier than last year and the five-year average. The good weather in Argentina has helped the soybean harvest progress significantly. In the context of the loose supply of global soybeans, US soybeans are under pressure, focusing on 980 pressures. The weather in the South American harvest and the North American sowing period is still uncertain. At the same time, it is necessary to pay attention to the impact of the strike of the Brazilian port in the near future.
Due to the general sell-off in the commodity market, the US soybean futures prices fell slightly overnight. Today's electronic disk and Lian meal are weak and volatile, while soybean meal spot prices are slightly adjusted. USDA will release the 2017/18 soybean trend yield forecast. At the same time, US soybean exports will improve in April, and the supply is too loose. However, domestic soybean imports continue to increase, and the operating rate of oil plants will remain at a high level passively, which will increase the pressure on soybean meal supply, with limited room for soybean meal to rise.
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