1. For the week ended February 15, 2024, the net sales of soybeans in the United States in 2023 24 were 55,900 tons, a new low for the year, 84% lower than last week and 84% lower than the four-week average. Net sales of soybean meal were 202,000 tonnes, 1% below the previous week and 35% below the four-week average.
2. As of Feb. 23, the 2023 24 Brazilian soybean harvest progress reached 38%, up from 31 a week ago, according to Brazilian consulting agency Homeland Agribusiness (PAN).10%;The progress in the same period last year was 3451%, compared to an average of 35 for the same period over the past five years95%。
Soybean meal**] Soybean sales in the United States fell to their lowest level since May last year as expectations of a bumper crop continued after improving weather in South America, and soybean harvests in Brazil continued to increase. Affected by the trend of soybeans in the U.S. market, today's soybean meal opened high and ran at a high level, and the main 2405 contract closed at 2989 yuan ton, up 6 yuan ton, an increase of 02%。
Soybean meal spot] Today, the national oil mills and merchants 43% protein soybean meal fell steadily, including Qinhuangdao oil mill 3370 yuan tons; Tianjin ** merchant 3310 yuan ton, down 30 yuan ton; Yantai Oil Plant 3360 yuan tons; Zhangjiagang Oil Plant 3,300 yuan ton, down 30 yuan ton; Quanzhou oil plant 3,400 yuan ton, down 10 yuan ton; Dongguan oil mill 3350 yuan ton; Fangchenggang Oil Plant 3380 yuan tons; Xi'an Oil Plant was 3,420 yuan tons, down 20 yuan tons.
Market outlook] South American soybean supply pressure and U.S. soybean exports are blocked, so that the U.S. soybean is easy to fall and difficult to rise, and drive imported soybeans to follow the downward trend, weakening the cost side of the soybean meal market support, the recent factory soybean crushing volume gradually returned to the normal level after the soybean meal ** increased, but in the soybean meal ** in the weak ** and after the Spring Festival pig and poultry consumption gradually light, feed breeding enterprises purchase cautiously, soybean meal out of the warehouse slowly after the ** continue to increase, ** will continue to run weakly.
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