|
NE IOWA/ SE SD |
Wow! That's cool.
The fall in the soybean harvest begins bid between export the commercial chronicler 02/02/2009 07: 25: 00 a.m.
With a 16 % below the 2008 harvest signatures take less sales commitments abroad. And must choose to provide porotos to China or oil and flour
Despite that the rains last week's "you changed the face some", not remedied losses at harvest soy throughout the country, as stated Rodolfo Rossi, holder of Acsoja, the entity comprising the production chain cultivation star of Argentina. Is that, apart from become protracted, precipitation were scarce, and rounding harvest soy forecasts continue out the 40 million tonnes, i.e., 16 % less than the collection of 2008.
In this context, the large export grain in the country - as Cargill, Bunge, Louis Dreyfus, AGD and VicentÃn, among others - are concerned about the evolution of the rindes in the field, and are injecting this unrest in the market, while initiate a bid including by become scarce grains.
An indication is that, in spite of the locked soy remaining in acopios and silaje (that is something more than 6 million tonnes), bags companies cut since the beginning of year the taking of new commitments to export with buyers from abroad. But there is an index measure in real-time the dynamics of these operations between private, close to the sector sources ensure that the decline in activity is noticeable. It is logical that the large suppliers, both grains oils and meal, refuse to sign contracts which then them oblige out aggressively search merchandise and pay any price.
Another is that, in parallel with the resurgence of drought, began to activated the market forward, i.e. sales with delivery to future Covenant between producers and export. Thus companies ensure delivery of the new soya starting into April.
The pressure to be merchandise is higher if takes into account that, as Argentina, Brazil, Uruguay and Paraguay suffer the consequences of the lack of water. In Paraguay, which sends the majority of soya that exports to Argentina for grinding, harvest could fall 43 % - 3.8 million tonnes-reported that country last week.
By the decline, the traders shall, in addition, readecuar its mix of exports. Of the nearly 48 million tonnes harvested in 2008, 38 million molieron to sell oil and flour, while slightly more than 9 million were exported as grain. But with 8 million tonnes less than harvest, if factories are intended to maintain the level of grinding to add value, should retracted strongly its sales of porotos soy, which are aimed primarily at Asia, with China at the head. But it is hoped that these buyers don't want to desabastecer their own plants milling and not accept the cut. If this happens, local exporters will have an additional loss. 40 % Of currencies ingresarÃan by sent equivalent meal and oils is lost to the values on Friday, each ton of soy exported as grain, FOB. | |
|
info from Argentina Crop
