U.S. soybean prices is not expected to restrain demand in China – china CRb-100
Increased demand for soybean meal, although the United States soybean futures prices, interest in China's soybean imports are likely to remain strong, the momentum will continue into June.
Integrated Media on April 16 message, traders Thurs (April 16), said interest in China's soybean imports are likely to remain robust, despite the decline in local prices and U.S. soybean futures prices to six-month highs, demand for soybean meal will make The momentum continued into June.
Soybean meal demand to make profits in China's crushing sound, to attract cargo from Brazil and the United States, this factor, combined with Argentina's supply cut to help push the CBOT soybean futures during Asian trading hours to reach the highest level for six months.
Shandong Province, said the manager of a trading company, crushers have a very good crush margins. Livestock increase, they expect this momentum will continue well into May and June.
Trading company in Guangzhou, a press manager, said the past three months, shipments of U.S. soybeans in 10 batches of samples found in reports of illness caused soybean imports will delay the concerns, Inspection and Quarantine did not block U.S. soybean shipments. He said there is no blocking. In the sample test before the crushers can uninstall and pick-up.
In the United States, traders said China from Brazil in the past three days, buying six ships soybeans, and 1 or 2 ship U.S. soybean, sailing on Oct. -11.
China is the world's largest soybean importer.
China's soybean imports in March hit a record high second, to 386 million tons in April to further import is expected to increase to 4 million tons.
The manager said the trade in Shandong Province, soybean meal demand rebound has been boosted in the past 30 days, 18% of spot prices. Soybean oil prices also rose more than 10%, squeezing the profit margin per ton more than 300 yuan (43.93 U.S. dollars).
Months China has been hunting could lift U.S. soybean, its price is lower than the domestic. Even if the domestic soybean prices have recently fallen and imports about the same level, but the north of the domestic soybean crushers showed little interest.
The manager said there was no willing to take over the domestic soybean crush, even if the price decline. Since 2008, they are not purchasing domestic soybean.
Domestic soybean prices fell because farmers to reduce the bid to get cash to prepare for the start of planting in May. However, the Government purchasing and storage of the local price is higher than imports.
Dalian soybean futures contracts in recent months, fell slightly Thursday, trading volume was light because the market is waiting for the market to further support the government's evidence. Market is also aware that if prices rose too much, the government may decide to release some inventory.
Northeast farmers are still holding a lot of soybeans in 2008 the remaining unsold, the Government is studying ways to help farmers sell soy.
The world's third-largest soybean exporter —- Argentina farmers strike concerns deter many Chinese buyers.
Ministry of Commerce last week (the week ending April 12) released preliminary data show that Chinese buyers is expected to carry 335,000 tons of soybean in Argentina, April delivery, in March did not report shipment. The data is far lower than the 1.88 million tons of Brazilian soybeans and 469,244 tons of U.S. soybeans.
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