China's purchasing appetite remains high, although premiums have remained stable (perhaps even because of this), said T&F Consultoria Agroeconomic. “FOB ports of origin premiums in Brazil remain high, with October at around +190, against +115U for Argentina and +105U for American soybeans. The Paranaguá Paper market traded in September from +188X to +195X”, he comments.
“In the CIF China market, the premium for Brazilian soybeans for September 2020 remained 245X, against 215X for Argentine soybeans and 219X for American soybeans. For new harvest, the May 2021 CIF China premium remained unchanged at +140H”, he adds.
In the international market for by-products, soybean oil closed low in India and high in Europe and China. “In the Chinese port of Dallian, soybeans rose to US$ 682.32 against US$ 678.06 the previous day; soybean meal advanced to US$ 424.87, like US$ 423.65 from the previous day and soybean oil advanced to US$ 876.82, like US$ 874.30 from the previous day”, he informs.
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“In Rotterdam, the main non-China port for demand for soybeans and by-products, the first month's quoted price for soybeans rose to US$ 376.50/t against US$ 376.10/t the previous day; soybean pellets fell to US$ 380.00, against US$ 380.00 the previous day, afloat. Vegetable oil prices for the first month ended the day at: canola oil fell to US$ 899.68/t against US$ 909.73/t the previous day; linseed oil was quoted at US$ 1070.00/t against US$ 1070.00/t the previous day; soybean oil fell to US$ 850.29/t against $ 845.00/t the previous day; sunflower oil fell to US$ 805.00 against US$ 812.50 the previous day and palm oil fell to US$ 705.00 compared to US$ 700.00/t the previous day”, he concludes.
Source: agrolink
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