BEET PULP
We have all the factories in operation, at a good rate of production, what happens is that there is no demand . It is clear that the excesses of last year's price we are paying this year, and feed manufacturers have long been reformulated no beet pulp. Only when it very attractive price for them to enter it again and this short term we do not believe it happens.
prices back down and lie on the 113 € / t in all plants except ACOR-Olmedo which are about 115-118 € / ton. change in ports notice a spike located on the 124 € / t of Tarragona and 128 € / t of Cartagena.
As news out to Vince Lawson Muscatine farm on the Isle of Fruitland (Iowa) in collaboration with the University Iowa, where they have conducted some experiments on the use of beets to produce ethanol. The results are spectacular as we believe, for every 35.4 tons of beet sugar were 5.5 tons, and turned in 898 gallons of ethanol, which is about 1,508 liters. We do insist that the withdrawal of beet cultivation in Spain has not been a good idea and can find ways to continue to maintain a production of great weight in our country (as they have in other countries, eg France).
FLOUR SOY
already issued a report in November 2009, initially was bearish, but that is proving bullish, as always, we are dizzy and then do what interests them.
data to consider:
1 - The progress of the harvest is 75% (51% of last week), if good weather this week, they may end.
2 - Soybean exports according to the USDA October 29, remained in the range, with a total of 524,900 tons (scheduled between 400/700.000 Tm) . It has committed 65% of projections for the entire campaign (47% average).
3 - The report November USDA soybean production for the U.S. would mill.TM 90.34 (88.45 mill tonnes the previous month) with a yield of 29 , 12 quintals per hectare (28.51 qq has last month.)
4 - stocks end according to the USDA for the U.S. would be at 7.36 mill tonnes (6.25 tons mill last month)
5 - For Argentina and Brazil also increased production, with 53 tonnes for the first mill and 63 mill tonnes for the second.
6 - There is some concern in Argentina by the lack of rain but it seems that this week would take a front of rain. Is doubt about the final area sown estimated between 15 and 19 mill for you.
7 - Estimating seed in Argentina is 33.8% of the 19 million hectares. November 11 projected 7% below last year.
8 - China imports ocubre fell to its lowest level, although yesterday was notified by USDA of a sale to China of 116,000 tons. Chinese operators have reserved and 14 Tm mill according to the USDA until February cover their needs, they need 3.5 mill MT every month. Decreases in imports in this period have depressed the production of oil and flour, which has driven up prices.
9 - Interesting comments from Sebastian Gavaldá CREA marketing specialist, who believes that prices will rise in the second half of 2010 due to three reasons. The first reason is that Brazil is not growing margins to lower the price, due to higher transportation costs that have to occur in the interior, along with an exchange rate that works against the Brazilians (the same happens to us in Europe). The second factor on the weak dollar, which can lead to increased purchases by index funds, seeking to safeguard the capital of inflation to come. The third reason is the demand, primarily from China and India.
We believe the price drop is still not going to happen this year because of the uncertainties are (despite a good harvest) and the high demand is occurring. Do not let the soybean price goes down, continue to fuel the market with news excess moisture, drought hazards in Argentina, etc. any reason for prices to recover. We are in the hands of Americans and Chinese and until they decide not to lower prices will not fall.
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