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He arrived on July 6 and yesterday's US soybeans deepened to a new low for the past 9 and a half years. The future of August 18 was still down 1 percent to $ 307 per ton in the midst of the US-China trade war.
To this is added the good progress of the lots seeded with oil in the United States. UU According to consulting firm Informa Economics, yields and production are expected to be high at 116.5 million tonnes, which will be difficult to achieve if Chinese tariffs are specified
. For weeks, hedge funds are dishing out soybean positions in Chicago futures. Thus, during a quarter, oilseeds lost nearly a quarter of their value (by the end of March, they were close to US $ 390 per tonne because of the drought in Argentina).
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This was the first decline from one year to the next since April 2017. In a scenario of low consumption and high rates, badysts expect further declines the rest of the year
Moreover, oilseeds are now worth half of their maximum historical price, attained exactly ten years ago: in early July 2008 (and when mobile retentions were discussed at the Buenos Aires Congress Aires), soybeans reached $ 612 per ton in Chicago
"This rearrangement is causing concern and raises questions as to whether the negative trend could deepen in the near future," Juan Manuel Garzon said. , economist at the Ieral of the Mediterranean Foundation. that if this is the case, the increase in tariffs in China comes "coincidentally, when US soybeans are practically not on the market", so that, according to Garzón, "a few months of renegotiation of commercial terms "between the two powers. US soybean harvest begins in September and strong North American oilseed exports are concentrated in October, November and December, just as the availability of the South American bean is decreasing
First Import
Meanwhile, today is the first import of American soybeans from Argentina for 20 years.
He arrived at the port of San Lorenzo in Santa Fe, a ship of 29,310 tons of soy from the United States. The recipient of the cargo is the company Vicentin, who will use this seed to transform it into his factory.
The shipment is the first to be carried out after, as El Cronista reported, this oil company purchased on April 11 last 120,000 tons of North American soybean, an operation that does not have the same effect. was not carried out 20 years ago and was motivated by the strong productive cut left by the drought in Argentina.
Since this takeover, 650,000 tons of North American soybeans were most likely to arrive in Argentina between October and November
With these companies, oil companies seek to secure beans to maintain the treatment program, and Subsequent export of oil, flour and pellets.
of the Petroleum Industry and Cereal Exporters Center (Ciara-CEC), it will be necessary to import 6 million tons of soybeans, with a temporary regime, in order to and ensure that the unused capacity does not exceed 40% per year.
Imports from the United States add to other more usual: Paraguay and Brazil
In this sense, the South American giant, in the first five months of the year, more 250,000 tonnes of soybeans have been processed.
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