Newsletter summary
Recently, important changes have taken place in the global protein meal and oil market. The progress of soybean harvest in Brazil lags behind.Tiger'sRichesRumble, 23x24 soybean yield forecast 1Tiger'sRichesRumble. 4.5 billion tons, Argentina estimates 51 million tons. Malaysia's palm oil exports surged 30% from April 1 to 10.Tiger'sRichesRumble.74%, the stock of domestic rapeseed meal is stable, but the output has decreased slightly. American private exporters to the unknownTiger'sRichesRumble124000 tons of soybeans are sold on the land, and delivery is expected to be made on the 2023 market in 2024.
Text of news flash
Recently, there are some important developments in the global protein meal and oil futures market.
Brazil's soybean harvest has been slow, with a harvest rate of 78 per cent as of April 4, down from 82 per cent in the same period last year. At the same time, the 24-year soybean harvest in Brazil has reached 76.4%, up from 71% the week before last.
In Argentina, soybean production is expected to remain at 51 million tons for 23 season 24 and 145 million tons for Brazil. The impact of the USDA report is relatively small, rising or falling by more than 1.5 per cent in only three of the past 12 years.
Brazilian soybean exports are expected to reach 12.73 million tons in April and soybean meal exports are expected to reach 2.45 million tons. The United States Department of Agriculture reports that private exporters sell 124000 tons of soybeans to unknown destinations and are expected to deliver them in the 2023 / 2024 market.
Domestic rapeseed meal stocks remained stable, with production falling slightly this week.
Malaysia's palm oil exports increased significantly from April 1 to 10, reaching 425603 tons, an increase of 30.74% over the same period last month. 24 degrees palm oil domestic port delivery prices rose slightly, quoted between 8420 and 8710 yuan per ton.
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