subject: Sharp Decline In U.s. Beans Will Drive Down Domestic Beans With The Plate [print this page] Although Friday night is only slightly higher U.S. soybean prices fell electronic disk weakness, but Monday the relative strength of the trend of domestic beans. Opening day of flat to slightly higher open after the shock strength. Once again led the varieties of soybean oil. January Masukura break up early high point, but after the shock fall.
Fri May Masukura break up high. The recent turmoil in the U.S. soybean Difficult to adjust up and the pressure of domestic soybean oil supply and demand fundamentals are still more cases, soybean oil prices bullish support mainly from two aspects: First, palm oil prices rose on the drive, Monday, opening with palm oil to go , 10-week intraday high. Malaysian palm oil producing areas affected by La Nina weather delayed harvest caused by heavy rainfall occurs and the production and export of palm oil fears drive to stimulate the horse has strong boost domestic palm oil and soybean oil prices extended gains last Friday.
Second, the day news of Argentina 22, China's textile products to introduce new anti-dumping duties, which indicates that China is banning imports of Argentina's soybean trade dispute could escalate. Soybean meal is also higher following the soybean oil shocks, high soybean in May, in January topped 3,900 yuan mark. But failed to break through last week's high of soybean meal. Since early July the strong side of the U.S. soybean shocks lift the bottom of the domestic soybean meal, although the recent correction in the U.S. beans, but the overall upward trend has not changed. Northeast producing soybean growth has raised concerns and storm floods southern agricultural prices rise and inflation concerns highlighted under the investment value of agricultural products also attract speculative money involved to do far month.
But the short-term U.S. beans continue to shock and fell back to the domestic fundamentals will not effectively restrain price increases with power. In addition, the market continued to face rising pressure Taobao selling. U.S. soybean plunge last night, the recent good weather boosted soybean producing areas, the growth of wheat and technical selling pressured prices down, the price dropped to 960-bit key support. After-hours weekly crop report shows that 67% of U.S. soybean excellent rate, and the week and year-ago quarter, consistent with market expectations, good to very good percentage of which increased by 3%, indicating that the growth of soybean improvement. Soybean flowering was 75%, compared to 60% last week, five-year average of 72%.
Soybean flowering rate was 35%, compared to 18% last week, five-year average of 31%. The latest weather forecast in August before the middle of extreme hot weather will not be a threat. Monday report, the U.S. soybean export inspections week down 32%. Although the date of purchase 226 thousand tons in China U.S. beans again, but the market reflects the calm. Weather to improve and grow well under soybean, bean U.S. short-term loss of momentum for further increases. Concerned about the important support 960-950 cents. Unless the weather forecast changes, otherwise the beans will be important to support the United States is close to shocks. U.S. beans will spur plunge beans with the plate down. Recent boost U.S. soybean import costs and drive up domestic oil meal spot prices, but domestic beans have no real change in fundamentals, so domestic prices is not a solid foundation for itself. U.S. beans will no doubt be dragged down domestic prices with the plate of the current decline. Monday to become the high point high short-term market.
