Argentina to cut soybean export tax to 18% vs 30% over 2 years

The third largest producer of soybean in the world, Argentina, has decided to cut export tax on soybean to 18% from 30% over two years. This reduction is part of the different measures that were taken in the last two years, aimed at giving competitiveness and predictability to the sector. The farm ministry will also reduce the export tax on soyoil and soymeal to 15% from 27%.

Soybean up in Indore on lower supply, high demand

Soybean prices were up in Indore, the benchmark market due to lower supplies and higher demand from crushers. Soybean prices were up in Indore, the benchmark market due to lower supplies and higher demand from crushers. The most-active February contract of soybean was at 3,145 rupees per 100 kg, up 21 rupees from the previous close.

Pakistan Soybean oil imports increase 71.93pc in 5 months

Edible oil imports including soybean and palm oil during five months of current financial year grew by 71.93 percent and 29.24 percent respectively as compared the corresponding period of last year. During the period from July-December 2017-18 109,366 metric tons of soybean oil worth of US$ 98.519 million imported to fulfill the domestic requirements as against the import of 37,845 metric tons valuing US$ 57.303 million of same period last year.

Meat demand grows, U.S. soybean sales suffer

U.S. exports of feed crops already were expected to drop this year as producers in South America and Europe expand sales. But after some lousy weather in the Midwest this year, the harvest yielded soybeans with less protein. While U.S. exporters often have to contend with Brazilian soy that is higher in protein at around 37%.

US soybeans for the week that ended 12/21 came in at 1.283 MMT

That dropped 28.43% from last week and is 25.42% lower than this time last year. Chinese imports of soybeans totaled 8.684 MMT during November, which is 10.83% larger than November 2016. Imports from the US picked up to 4.662 MMT, which still lags a year ago by 17.01%, while imports from Brazil came in at 2.76 MMT, well above last year.

Soybeans rise on dry weather in Argentina

U.S. Chicago soybean futures rose for a third consecutive session, with the market trading near its highest in almost two weeks on concerns over dry weather in Argentina. The most-active soybean contract on the Chicago Board of Trade gained 0.3 percent to $9.73-3/4 a bushel. Soybeans drew support as a dry weather pattern lingered in Argentina, reducing yield potential in the No.3 global soy supplier behind the United States and Brazil. Rainfall over the weekend in much of Argentina’s main soy and corn areas improve soil moisture, analysts said, though fields in some parts of the country could remain dry.

Natl Bulk Handling sees Kharif soy crop seen 10.5 mln tn, down 26%

Oilseeds have been the worst hit crop in the current kharif season. Occurrence of heavy rains in the initial sowing stages and moisture stressed situation in the later stages has led to significant decline in production. Production of soybean is seen declining to 10.5 mln tn from 14.2 mln tn. Groundnut production is seen falling 9.9% on year to 5.9 mln tn. The first estimate in September had pegged output for the oilseed lower at 5.7 mln tn.

Russia amur region actively increases soybean oil exports to China

Soybean oil exports from Amur region to China have increased fourfold over the year, from 4.5 KMT to 17 KMT. Soybean oil exports are picking up pace. 4.5 KMT of this commodity was exported for the first nine months of 2016 and 17 KMT at the same time in 2017. A fourfold increase. Both refined and crude soybean oils are shipped to China. A bumper soybean crop of 1.3 MMT was registered in Amur region in 2017.

NCDEX soybean down on profit booking post 2-week high.

The January contract of soybean on the NCDEX fell as investors booked profits after prices hit a two-week high. The most-active January contract of soybean on the NCDEX was down 0.5% from the previous close. Prices had risen in the last four trading days due to lower arrivals in wholesale markets. Losses in futures contracts of soybean on the CBOT further weighed on prices of the oilseed on the NCDEX. The March contract of soybean on the CBOT hit an over three-month low of $9.6250 earlier as concerns over dry weather in Argentina, the third largest producer of soybean, eased after the country’s main farm belt received rainfall during the weekend.

Rains improve conditions in Argentina

Rains in key regions of Argentina ranged from 1.1 inches to 3.9 inches during this weekend. Nearly half of the total surface in Argentina is under dry conditions, especially in the South of Córdoba, South of Santa Fe, and Northwestern Buenos Aires.

China tightens quality standards of soybean imports from the US

China, the world’s top soybean buyer, reduce the amount of foreign material allowed in shipments of US soybeans as of January 1. US soybean shipments arriving at Chinese ports containing up to 1 per cent of foreign material would be expedited while shipments with more than 1 per cent could be held back for testing. Quality specifications for No 2 yellow soybeans – the variety most common in US export contracts – allow for up to 2 per cent foreign material. China requested the change in specifications due mostly to concerns over weed seeds in US cargoes.

U.S. soybean exports top another record 2.6 billion bushels in 2016-17 markets year

Government data shows that U.S. farmers again exported a record number of soybeans, shipping 2.6 billion bushels to international buyers in the 2016-17 marketing year. Valued at more than $28 billion, the milestone represented the second year in a row that exports exceeded 60 percent of U.S. soybean production. However, the United Soybean Board warns that record U.S. production is no longer enough to ensure markets for U.S. farmers.

CBOT soybean up on short covering post 11-week low

The January contract of soybean on CBOT rose as investors covered their short positions after prices hit an 11-week low of $9.55 per bushel. Prices fell earlier as concerns over dry weather in Argentina, third largest producer of soybean, eased after the country’s main farm belt received rainfall during the weekend. The most-active January contract of soybean on CBOT was at $9.5775 per bushel, up 0.2% from the previous close.

Soybean prices up in Indore on low arrivals

Prices of soybean in Indore were up because of low arrivals. Low availability of quality stocks is also seen supporting prices of the oilseed. On NCDEX, the most-active January contract was up by 14 rupees.

NCDEX soybean stocks at 9-month high as futures above spot price

Inventories of soybean at NCDEX-accredited warehouses rose to a nine-month high as futures are trading above spot prices. Stocks of the oilseed at exchange warehouses were pegged at 207,966 metric tonne, 1,206 metric tonne higher from previous close. The most-active January contract was up 0.6% from the previous settlement. Soybean prices are trading above the minimum support price and this also led to an increase in the warehouse stocks.

NCDEX marks 2,920 metric tonne soybean for staggered delivery

NCDEX marked 2,920 metric tonne of soybean and 1,010 metric tonne castor seed for staggered delivery in the December contract. The exchange also marked 740 metric tonne guar seed, 280 metric tonne wheat, 180 metric tonne cottonseed oilcake, 120 metric tonne each of chana and mustard seed, 117 metric tonne jeera, 80 metric tonne coriander, 15 metric tonne guar gum and 10 metric tonne turmeric for staggered delivery in the December contract.

NAFED procures 70,004 metric tonne soybean, 570,076 metric tonne groundnut

The National Agricultural Cooperative Marketing Federation of India has procured 70,004 metric tonne of kharif soybean and 570,076 metric tonne of groundnut-in-shell in key growing states of the country. The procurement of soybean is underway in Maharashtra, Rajasthan and Telangana, while procurement of groundnut is being carried out by Gujarat, Rajasthan and Andhra Pradesh. Gujarat is the top producer of the kharif groundnut. Maharashtra and Rajasthan are the second and third largest producers of soybean in the country.

Cbot Soybean prices near lowest since early Oct, S. American weather weighs

Soybeans pressured by rains in Argentina, record Brazilian crop. Chicago soybean futures edged lower, with the market trading near its lowest in almost 11 weeks as forecasts of rain in Argentina’s drought-hit oilseed growing areas weighed on prices. Rains that fell on Argentina’s main farm belt over the weekend brought relief to parched soybean. The Chicago Board of Trade most-active soybean contract slid 0.1 percent to $9.61 a bushel.