Dolár Comercial : --
Boi Gordo (B3) : --
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Petróleo : --

Morning Wrap up: Chinese demand is active

Por: Eduardo Vanin
Artigo, Grãos
Publicado em: 24/10/2024 08:47

Trades reported CFR China overnight – around 10 cargoes. Demand is concentrated on PNW and NC Brazil. Palm oil refresh the 2 year high, pulling toghether SBO in Argentina – the SBO flat price in Arg jumped more than $100 per ton this month. The SBO US is calculating to Asia. The oil share Fob Arg went from 36% to 40% in few weeks. Oil futures in China are firmer too. Board crush in China improved yesterday. Chinese crushers were active yesterday afternoon (Brz time), pulling Fob levels upward. Trades reported for April, May and June. Trades reported out of PNW and USG. In Argentina new strike announced: Transportation strike scheduled for Oct 30 for 24HS (affecting trains, planes, trucks and vessels). Good rains all over Brazil in the last 5 days, favoring almost all regions. The pattern shifts to less rain down the South, which is good, and more regular rains in the center-North. Storm warnings could cause flooding in Rio Grande do Sul. Deral estimate soybean planting in Parana at 62%, 4 ppts above LY.

Soybean Paper MKT – Oct 23

(daily variation)

Feb +90sh (+5) vs +80sh (+10)

Mch +53sh (-2) vs +45sh (+5)

Apr +50sk (+5) vs +40sk (unch)

May ?? vs +55sk (+7)

Jun +70sn (+10) vs +45sn (-5)

Jul +80sn vs +55sn (-5)

Trades: no reports

Cargo Market (Santos/Tuba):

FH Nov 24 +190sx vs ??

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