Tag Archives: soy

GRAINS-US soybean prices slumped due to improved Brazilian weather; wheat rally | Instant News

(Update prices, add quotes, change lines, change the previous SINGAPORE / PARIS timeline)

CHICAGO, December 2 (Reuters) – US soybean prices fell to a 2-1 / 2 week low on Wednesday as forecasts for much-needed rain in parts of Brazil’s crop areas prompted a long round of liquidation and profit-taking, traders said.

Wheat prices rose, rebounding on bargain buying a day after the benchmark Chicago Board of Trade (CBOT) March contract fell to a two-month low, and corn futures emerged, rallying from initial weakness.

As of 12:48 CST (1848 GMT), January CBOT soybeans were down 7 cents to $ 11.55 a bushel after dropping to $ 11.42-1 / 2, the lowest contract since Nov. 13.

March CBOT wheat was up 10-1 / 4 cents to $ 5.87-1 / 2 per bushel and March corn was up 3-1 / 4 cents to $ 4.24 per bushel.

Soybeans fell as traders focused on forecasts to improve harvest weather in parts of Brazil, the world’s biggest soybean exporter.

“Increased rainfall in most parts of Brazil over the next week will start to reduce stress on corn and soybean crops. Continued rain will be needed to completely end the drought, ”Kyle Tapley, a meteorologist with space technology company Maxar, wrote in a client note.

Commodity funds hold a strong long net position in the future of CBOT soybeans, leaving the market vulnerable to long term liquidation. So far in 2020, the benchmark for soybean futures is up around 21%.

Datagro and StoneX forecasters on Tuesday raised their estimates for Brazil’s 2020/21 soybean harvest to 134.98 million tonnes and 133.9 million tonnes, respectively.

CBOT wheat rose in a bounce from two-month lows reached on Tuesday.

“Wheat led the ags higher as end-user purchases returned to their recent price lull, with corn following along for the same reasons,” Arlan Suderman, chief commodity economist for StoneX, a commercial brokerage, wrote in a client note.

CBOT wheat prices have been easing since hitting multi-year highs in October, drawn by inconsistent demand for US supplies, with Black Sea suppliers continuing to win business. (Reporting by Sybille de La Hamaide in Paris and Naveen Thukral in Singapore; editing by Jan Harvey and Mark Potter)


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US soybean shipments due in Brazil Thursday | 2020-11-25 | Instant News

About 30,000 metric tons of US soybeans will arrive at the port of Paranagua in southern Brazil on Thursday, showing how much Brazil – the world’s largest soybean producer and exporter – has overexported the large crop this year.

The shipment delivered by Louis Dreyfus will be loaded onto trucks in Parangua and transported over 100 miles from the port to the crusher on Ponta Grosso, said John Baize, an analyst for the US Soybean Export Council.

It was a costly undertaking for what should have been home to a plentiful supply of soybeans for most of the year, but between a weak domestic currency and rising demand from China earlier in the year, Brazilian farmers sold their crop quickly.

“Soybeans will be hard to find between now and the harvest down there,” said Baize. “They don’t have soy.”

Brazil is also a major livestock country, producing and exporting beef and poultry worldwide.

Brazil’s next harvest will start in earnest in January, but analysts are already expecting yields to fall this year as it is drier than normal in parts of the states of Mato Grosso and Rio Grande do Sul.

Brazilian ag analysis firm AgRural still predicts Brazil will produce 131 million metric tonnes of soybeans next year, but Baize said he would be surprised if the country produced more than 120 million tonnes.

For this year, the Brazilian government has paved the way for soybean imports because of concerns over rising food prices. Just last week, Brazil lifted its ban that prohibits biodiesel producers there from using imported soybeans and soybean oil to make fuel. Last month, Brazil lowered tariffs on soybean imports from the US and elsewhere outside the Mercosur trading bloc in South America.

For more news, visit www.Agri-Pulse.com.


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Bumper soy crops sidelined in Brazil’s grain state amid drought – analysts | Instant News

SAO PAULO, Nov 13 (Reuters) – “Super soybean harvest” banned for the 2020/2021 season in Brazil’s largest grain state, Mato Grosso, as irregular rains cast doubt on yields and volumes when harvest is ready for next year, an analyst with agribusiness consultancy AgRural said on Friday.

The Brazilian government said earlier this week that Mato Grosso would harvest nearly 37 million tonnes of soybeans by 2021, while Brazil would harvest a record harvest of around 135 million tonnes.

“A major harvest is impossible,” AgRural analyst Fernando Muraro said of Mato Grosso, refusing to elaborate.

He said farmers had to replant seeds in areas such as Campo Novo do Parecis and Diamantino, in the western part of the state.

In the traditional producing towns along the BR-163 highway, in the north central part of Mato Grosso, the climate situation is slightly better after the recent heavy rains, Muraro said.

“This has really been an unusual year,” Muraro said of a country that is expected to supply nearly 30% of Brazil’s soybeans that season. “Mato Grosso is very dry, and it’s historic.”

The September drought caused delays in planting in parts of Brazil and in Mato Grosso, where planting has covered 94% of the estimated area, according to Imea, Mato Grosso’s private research agency.

On Friday, listed agricultural company Terra Santa Agro told investors that climate uncertainty is causing it to reduce the total area to be planted with grains and vegetable oils this season, to 130,200 hectares (321,731 hectares) from 149,500 hectares.

Planting is far behind in the northern state of Paraná, Muraro said after personally surveying fields in Brazil’s second-largest soybean producer. (Reporting by Roberto Samora in São Paulo Written by Ana Mano Editing by Marguerita Choy)


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Organic Thanksgiving and Soybean Exports to Brazil | Instant News

Organic Thanksgiving and Soybean Exports to Brazil

From the Ag Information Network, I’m Bob Larson with you

Agribusiness Renewal.

** The pandemic-related effects have transformed the supply and demand for timber, sending prices to record highs.

Analysts say wood production is slowing due to stay-at-home guidelines and social distancing affecting factories.

At the same time, more wood has been purchased for home improvement work and expansion projects.

The price of timber has fallen sharply since mid-September, but remains higher than the previous record set in 2018.

** Carrots, potatoes, lettuce, onions and tomatoes were among the top 10 categories by volume in the third quarter Organic Production Performance Report.

thepacker.com reports that when the weather is cold and food preparation turns to a more delicious meal, organic vegetables are likely to play an important role.

Thanksgiving has traditionally been a big event for certain organic produce items, but Brian Peixoto, sales manager of California-based Lakeside Organic Gardens, said it’s uncertain what conditions will be like this year because of COVID-19.


** The US grain export terminal near Baton Rouge, Louisiana, has loaded about 38,000 tonnes of US soybeans for shipment to Brazil.

That’s unusual, according to agweb.com, because Brazil is the world’s largest exporter of soybeans and hardly ever needs imports.

But this year, Brazilian farmers have sold large volumes to major importers of China, leaving little for domestic consumption and that has led to higher prices for Brazilian meat feeding and packaging operations, and contributed to food inflation.



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Grain-Soybeans at 4 years high on demand, Brazil’s dry weather supports prices | Instant News

* Soybeans rose to their highest since July 2016, rising for the 3rd session

* Corn company, wheat rose 0.9% after closing slightly lower (Adding quote in paragraph 3, updating prices)

SINGAPORE, Nov 5 (Reuters) – Soybean prices in Chicago soared to their highest level in more than four years on Thursday, rising for the third straight session, due to dry weather in parts of South America and strong demand from the world’s biggest importer, China, support prices.

Corn gained more, while wheat rose after closing slightly lower in the previous session.

“China is actively buying coffee beans and we are seeing additional demand emerge from Brazil,” said one Singapore-based trader. “The weather isn’t perfect for Brazil and the harvest will likely be delayed due to dry weather.”

The Chicago Board of Trade’s most active soybean contract was up 0.7% at $ 10.94 per bushel, at 0306 GMT, after rising to its highest level since July 2016 at $ 10.95 per bushel earlier in the session.

Corn added 0.6% to $ 4.07-1 / 2 per bushel and wheat increased 0.9% to $ 6.11-1 / 2 per bushel.

Parts of Brazil’s soy growing region have received rain this week, but other areas need humidity, and La Niña weather patterns remain a risk to crops across South America.

Traders have also started looking ahead to the November 10 supply / demand report from the US Department of Agriculture (USDA), which some analysts expect will show a decline in US soybean yields and an increase in export forecasts.

US final corn stocks, currently projected by the USDA to be more than 2.1 billion bushels, could also fall on rapid demand, analysts said.

“China’s strong return to the US soybean market in recent months has lifted US agricultural exports to Asian economies to new records, and the busy delivery schedule bodes well for the promises outlined in the Phase 1 trade agreement between the two countries. , ”Wrote Karen Braun, market analyst for Reuters, in a column.

Most of Ukraine’s winter grain crops grown for the 2021 harvest are in good and satisfactory condition, APK-Inform analysts said on Wednesday, citing weather forecasters.

Commodity funds are net buyers of CBOT soybean, corn, soymeal and soybean futures on Wednesday, and net sellers of CBOT wheat futures, traders said. (Reporting by Naveen Thukral; Editing by Rashmi Aich and Sherry Jacob-Phillips)


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