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Por: Eduardo Vanin
Artigo, Grãos
Publicado em: 07/11/2023 08:20
Brz Markets - Recap: Trades reported for February at -65h – 10 cents lower comparing to LW (sell side). Tradings keep offering February shipment Fob and also in CFR China at the same levels of the last few weeks. Origination margin is positive for Feb and March at the current levels, but assuming no issues in execution due to harvest delays up North or any quality export standards problems. For the next 4 weeks EC model is showing warmer and drier pattern for the North of Brz and wetter and warmer for the South. Soybean Farmer selling yesterday increased comparing to the last few weeks (400k) – 50/50 between old crop and new crop. For old crop crushers were again the best buyers, covering up December and January window. Cause of that, soybean meal premiums for December remain under pressure in Brazil. US soybean meal for December became too expensive comparing to Brazil (including the quality adjustments), but is still cheaper comparing to Arg.
Soybean Paper MKT – Nov 6th
Feb -60sh vs -70sh
Mar -95sh vs -105sh
April -94sk vs -110sk
May -75sk vs -100sk
JJ -60sn vs -80sn
Trades reports: Feb at -65sh and rumor of Mar at -94sh.
3
4
5,00
