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Buxton ND | 1891 No they haven't canceled more then they are buying,but the point is when China talks,the trade listens...... this whole Known and UN-known thing is pure BS and have no clue why it is done that why..... China buying high price beans during this summer rally was a big reason the spec longs went a a record long/net long. and IMO the ONLY reason we saw almost $18..............The how commercials cover (hedge those sales) ((buy cash beans or on the board)) and UN-cover,UN-hedge those sales in the past has been HUGE market drivers either up or down...... 2004 rings and bell big time,driving bean to OVER $10 with a harvest low of 5.02 in 8 MONTHS..... 1996 and 1997 ring another China bell......... MILLIONS?BILLIONS of dollar were made or lost in those years on CHINA buying,or canceling......
If you have different figures please share them OK !!! Below is a copy and paste from this mornings report,there so xxxxxxx many unknown/ known switch's you need a dam spread sheet to really figure it out !!!!!!!!!
Soybeans: Net sales of 559,700 MT for the 2012/2013 marketing year were up noticeably from the previous week and 14 percent from the prior 4-week average. Increases reported for China (371,500 MT, including 58,800 MT switched from unknown destinations and decreases of 6,100 MT), Vietnam (93,100 MT, including 65,000 MT switched from unknown destinations), Thailand (79,400 MT, including 61,000 MT switched from unknown destinations), Spain (72,600 MT, including 66,200 MT switched from unknown destinations), and Mexico (62,600 MT), were partially offset by decreases for unknown destinations (346,200 MT) and Canada (3,800 MT). Net Sales of 25,500 MT for delivery in the 2013/2014 marketing year were for Japan. Exports of 1,814,400 MT were up 4 percent from the previous week and 10 percent from the prior 4-week average. The primary destinations were China (1,280,100 MT), Taiwan (74,300 MT), Vietnam (72,700 MT), Spain (72,600 MT), and Thailand (71,100 MT). | |
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USDA predicted nearly 75% of soys been sold or shipped
