03.
01.17
08:21

Soybean demand benefited from particularly strong in 2016 by China's United States

The Sojabohnenfutures on the CBoT start the new year with weaker prices. Traders expect that China's buying interest soon turns to South America.
Last year, the United States could particularly benefit from very good demand from China and you want to increase sales further in 2017. However, Brazil's harvest strives to on a new record. Anyway, it looks very well in South America, with the field stands. Also, the stocks are very high worldwide.
The Brazilian soybean harvest is estimated by the USDA at 102 million tons; There were 96.5 million tons in the previous year. China buys 60% of its soybean demand in the world market, what comes in 2016/17 to 86 million tons. There were 83.2 million tons in the previous year.
To attract the export from Argentina, the Government decided there yesterday, that one wants to reduce the export duty from 2018 in monthly 0.5% - steps until 2019 to 12%. Thus, the third-largest soybean supplier and the largest soybean and soybean meal provider wants to keep its dominant role also in an increasing demand of the world.
Last week, traders from the United States from the harvest 2016 exported 568.000 tonnes of soya beans. That surpassed the expectations of traders, whose expected were between 200,000 and 500,000 tons.

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