Assessment of soybean weeks: weak spot weak demand correction Soybean
First, market review 1, the futures market price U.S. soybean Gaokaidizou
this week, July contract around 1200 cents mark rivalry. Dalian soybean futures this week, weak correction, the major 1001 contract in 3600 was strong support for the top mark, weeks, range-bound. Whole soybean lack of a sense of direction.
2, domestic soybean spot market Soybean futures prices
correction by the impact of producing oil plant soybean prices dropped sharply 60-80 yuan / ton, Harbin 3600-3620 yuan / ton, eastern Heilongjiang Price 3460-3560 yuan / ton. China imports soybean points selling price stable port of transactions 3800-3900 dollars, the recent port of soybean imports to meet growing demand in Hong Kong, a relatively less active in trading volume, the buyer see mood strong. Port inventory at present 3.6 million tons, in June estimated that 4.5 million tons to Hong Kong import beans. Pressure on current domestic oil plant schrot large inventory, plus the United States and beans on the price correction, so Bean oil Soybean meal spot prices weakened this week, dragged down soybean prices higher.
Second, the focus this week 1, the Fund continues to hold more than one soy, not the end of rally
From the early March date, speculative funds in the large net holdings of U.S. beans on more than one, of which more than one net soybean Zhang rapid growth by the more than 7600 hands so far 136000, an increase of nearly 17 times, the fund will do more soybeans strong. Still no sign of reduction is estimated that more than one net will remain high.
2, United States and China purchases a small amount of beans
Good straight away China's early cancellation of the U.S. soybean import orders, the U.S. Department of Agriculture announced this week as the week of June 11 exports Sell Report. U.S. soybean sales of 250,700 tons of net exports, China imported nearly 11 million tons, making the U.S. soybean spot prices to remain firm. The current total U.S. soybean export sales in 2008/09 to 33,820,900 tons, a year earlier to 30,457,600 tons, an increase of 13.83%. China's total purchase of U.S. beans 18.4635 million tons, compared to 13,588,800 tons, up 41.08 percent.
3, the northern hemisphere weather eye to gradually enter the market Most of Inner Mongolia, Heilongjiang
recent rainfall in the northeast usher, played on the local soybean seedling growth delay, waterlogging in parts of the phenomenon. Rains ease drought in eastern Heilongjiang, enabling the growth of soybean. Weather is expected on June 19 to 20, Black will have more precipitation province, to see if the rain continued to the present is too large, will affect the yield.
The eastern plains of the Midwest early this week has also seen substantial precipitation, making the kind of delay soybean planting the land, on the far month contract to play a strong support.
Three comprehensive reviews Following last weekend finished lower on CBOT soybean prices after the U.S. this week to open lower soybean prices continue to shock, in July the contract was in 1200 cents stronger support efforts to pass the current contract in July about to enter the delivery month, 11 month contract will a main contract, weather the market will be further subject of concern. At the same time will be announced this month the U.S. Department of Agriculture soybean acreage report, and then before the weak export data can not promote further higher soybean market waiting to see a strong sentiment, but still holds a lot of speculative money more than a single soybean, bean short-term decline in the U.S. is limited to extended sideways, until the new market fundamentals to give guidance, short-term contract in November 1100 cents pressure level.
Domestic soybean storage spot facing domestic pressure to throw, producing soybean prices continued to weaken, soy products also face lower demand is not the situation in soybean prices continued to fall this week, the spot price of soybean meal is relatively stable but the transaction is not satisfactory, the buyer wait a strong atmosphere.
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