Shenhua Futures multi factors landing beans spread repair nrf905

Shenhua Futures: multi factors landing repair fundamentals, beans price 1, soybean meal 1.1 U.S. soybean yield fundamentals continue to increase, also can not withstand the strong export yield increment, the overall bearish report the latest U.S. monthly supply and demand report, 20152016 year old exports increased 1 million 630 thousand tons to 52 million 800 thousand tons, the old supply and crush maintain the same old, so overall sales ratio fell 1.62% to 4.95%. The new soybean harvest area increased by 70 thousand, to 83.03 acres, has little effect on the overall market supply. But the United States Department of agriculture in September continue to increase soybean yield, by August 48.9 bushels raised to 50.6 bushels per acre, the increase rate of 3.48, compared with the trend of yield increase of 8.35%. The yield increase in U.S. soybean new production increased by 3 million 830 thousand tons to 114 million 330 thousand tons. Total new supply increased by 2 million 200 thousand tons. New consumption, exports increased by 950 thousand tons, press volume increased by 270 thousand tons, the total consumption increased by 1 million 230 thousand tons. Due to the increase in production is greater than the increase in consumption adjustment, the new library sales edged up 0.8% to $9%. The old and new overall sales ratio continued to decline 0.82%. Table 1  the US; the latest monthly supply and demand report changes in data sources: wind, Shenhua 1.2 Institute of high domestic subsidies, highlighting the purchase value early state of the northeast United States and Inner Mongolia soybean target price subsidies, subsidies for the pricing of 4800 yuan per ton, was significantly higher than that of imported beans, international soybean market price of 3200~3400 yuan per ton today the. Relatively high price subsidies highlight the national adjustment structure, inventory determination. But the larger spread abroad, enhance the attractiveness of foreign soybean, even taking into account the domestic soybean varieties of non transgenic factors, buy foreign soybean selling domestic soybean has obvious arbitrage opportunities, which will provide the necessary support for the u.s.. From a cost perspective, the U.S. soybean planting cost in 9.4 to $9.8, close to the cost line of U.S. soybean prices, has made high cost farmers loss, little space prices fall further. 1.3 downstream consumption should not be too pessimistic by domestic buyers to wait for the State Reserve soybean storage, as well as the high price of imported soybeans, soybean imports continued to slow down. Customs data show that in August China imported 7 million 670 thousand tons of soybeans, compared with the same period last year, a decrease of 1.4%. This is also China’s soybean imports for third consecutive months less than the same period last year. The above two factors on the volume of imports is the largest contribution to the domestic procurement of foreign soybean is relatively high, and wait for the new listing. Although the domestic storage, but its total domestic buyers and participation is not high. So far, the government has provided a total of 4 million 500 thousand tons of soybean reserves, but sales of only 1 million 200 thousand tons. Thus, the State Reserve soybean in the case of price cuts, currently temporarily unable to effectively impact the market. In addition, with the fall of yield expectations, the price fell sharply possibility is not playing, while domestic buyers have gradually realized this point, increase the purchasing power of the U. s.. Recent message display,.相关的主题文章: