February 27** price
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At present, it is difficult for soybeans to have the best momentum in the short term, and in the short term, it may still be stable.
International Market ** Overview:
United States:
CHICAGO, Feb. 26 (Reuters) -- On Monday, the Chicago Exchange (CBOT) soybeans rose and fell, representing the futures of old beans and the futures of new beans. The benchmark period of the day closed higher, as the price of beans fell to the lowest level in more than three years after the short-covering emerged.
As of**, soy****3.50 cents to **275 centsRanging from March to about 3 cents higher, the March futures closed higher1136 cents bushel；May futures closed 3 percent higher50 cents, receiving1145.25 cents bushel；November futures closed 050 cents, receiving1129.75 cents bushel
The most actively traded May futures trading range is in1133.50 cents to 1151 cents
The March contract fell to its lowest per bushel since November 2020 in early trading11.$2475, May futures and other aged bean futures also hit new lows. As the day unfolds, short covering emerges, helping these representatives of the futures of the beans.
However, analysts said that U.S. soybean exports continue to face stiff competition from South American soybeans, and the expected increase in U.S. soybean plantings in 2024 has a bright outlook, leading to a new bean future.
On Monday, the soybean basis purchase price in the central U.S. was stable and mixed. The basis purchase price of soybeans at a river terminal in Illinois** 1 cent, and the basis purchase price of soybeans in the other two places in the Midwest** 1 to 5 cents
The USDA's weekly export inspection report showed that the number of U.S. soybean export inspections for the week ended Feb. 22 was974,977 tons, down from a week ago, an increase over the same period last year。This figure was slightly higher than market expectations.
The U.S. export of soybeans to China (mainland) last week was lower than a week ago, according to the USDA's weekly export inspection report, but year-on-year
U.S. shipments to China (mainland) for the week ending February 22, 2024598,828 tonsSoybeans, as a comparison, were shipped the week before657,888 tonsSoybeans, soybean shipments to China in the same period in 2023370,070 tons
U.S. soybean export inspections to China accounted for the total export inspections of the week, last week was, two weeks ago it was
In its February 2024 supply and demand report, the USDA expects China's soybean imports in 2023-24 to be1.0.2 billion tons, the same as in January**, higher than the previous year1.008.5 billion tons
On Monday, the volume of soybeans** was estimated to be:330,430 lots, the previous trading day was368,046 lots。The amount of empty orders is757,373 lots, the previous trading day was785,292 lots
Brazil:
Foreign media news on February 26: Brazilian consulting agency Agrural said on Monday that Brazil's soybean production in 2023 24 is estimated to be1.47.7 billion tons, than January 15**1.50.1 billion tonsReduce2.4 million tons
This month's downward revision is due to the loss of soybean yields in Paraná and Mato Grosso do Sul, as high temperatures and irregular rainfall were affected during parts of January and February.
As of Feb. 22, the soybean harvest in Brazil is progressing, a week ago, higher than the same period last year
Brazil exported soybeans in the first four weeks of February, according to export data released by the Brazilian Secretariat for Foreign Affairs (SECEx).498.610,000 tons, the average daily export volume is33.240,000 tons, compared with the average daily export volume in February last year27.870,000 tonsincrease
The export volume for the whole month of February last year was501.690,000 tons
Argentina:
Foreign media news on February 26: Argentina soybean spot market on Monday**.
On Monday, the Argentine Ministry of Agriculture provided the upper river soybean FOB spot**$403(including 33% export tax), than on the previous trading day**$1。Last week's Argentine soybeans**。In 2023
On Monday, the Chicago Exchange's soybean *** March 2024 soybean futures closed about 3 cents higher at the close1136 cents Pu；Soybeans closed 3 percent higher in May5 cents, newspaper1145.25 cents of a bushel；New season November soybeans**05 cents, newspaper1129.75 cents bushels
On Monday, the official exchange rate of the Argentine peso closed1 USD to 8407 pesos, the previous trading day is；The parallel exchange rate (i.e., the black market exchange rate) is, the previous trading day is
On Feb. 22, the Buenos Aires Grain Exchange said that the condition of Argentina's soybean and corn crops continues to improve due to recent rains.
On Feb. 21, the Rosario Grain Exchange lowered Argentina's soybean production2.5 million tonsTo49.5 million tons, slightly below the USDA's current expectations50 million tons；Corn production in Argentina** downward2 million tonsTo57 million tons, but still higher than USDA**55 million tons