The prices demanded by Brazilian traders are now lower than those of the US. The reason for this is the currently weak demand from China for prompt deliveries.
In recent weeks, demand for soybean meal in China has collapsed because pigmeat is currently losing money. The worst is yet to come, because the doldrums should last another month.
The soybean stocks in China's oil mills are overrun because feed manufacturers are calling much less than usual. China is hardly interested in prompt delivery on the world market.
Brazil's soybeans for immediate shipment cost $ 389.1 / tonne yesterday, and US offers were $ 405.50 / tonne.
China's demand for US soybeans has also been poor recently, and market participants attribute this to possible punitive tariffs that Beijing has threatened. US sorghum anti-dumping duties have already caused significant damage to US agriculture.
Text: HANSA Derivatives Trading GmbH /
