Jade Plants Turn Purple

06-11-2009

06/11/2009

BEET PULP

still keeping overall prices between € 115-118 / t as factories. Achor was the first with prices hovering around the 118 € / t on the market. Toro and La Bañeza have already started to come, and beet pulp are expected on 9, with levels of 115 € / t and Miranda
begin soon have the same price. The market remains well off and with no desire to sue pulps. We believe that the follow the low grain prices and the cheap dollar, demand will not work.
For you to take note of how they see things in Brussels, has just published Regulation (EC) 1044/2009 with an increase in the export of sugar outside the quota for this season, which happens to 1,350,000 MT (650,000 before TM) for the period between 1/10/2009 and 30/9/2010 due to exceptional weather conditions has been as expected a large crop of beets. It is also estimated that sugar production will be about 3 or 4 million tonnes with their storage problems (apply to beet pulp). However we still think that with this dollar the difficulties in exporting will be important. SOYBEAN MEAL



Earrings what will happen on day 10 with the USDA report, the market continues to rise and fall without a clear trend.
data to consider:

1 - Regarding the condition of crops, on 1 November, the USDA reported that 63% is in state good / excellent (65% last week). The progress of the harvest is 51% (44% last week, 85% in 2008 and 87% average for the past five years.)
2 - Soybean exports according to the USDA October 29, remained in the range, with a total of 524,900 metric tons (planned between 400/700.000 Tm). It has committed 65% of projections for the entire campaign (47% average).
3 - FC Stone estimated U.S. soybean harvest 91.96 million tonnes, up from 88.45 million projected by the USDA in October.
4 - It provides abundant in Brazil, where the National Supply Committee yesterday held a volume of between 62.5 and 63.6 mill. / T (57.1 million 2008/2009) against the 62 mill. / T provided by the USDA in October.
5 - There is some concern in Argentina by the lack of rain. The conditions that give the next 10-15 days will be key to determining the offer 2010.
6 - Oil World has cut its crop forecast for Argentina at 50 mill.Tm (52 mill.Tm before.)
7 - The estimate of planting in Argentina is 12.1% of the 19 million hectares. planned for November 4. It is delayed by almost 18% over last year with 17.75 mill. for you ..

continue to doubt whether it will produce the long-awaited drop in soybean futures. We hope that in November USDA report more clear to us the path to follow, because if not we will have to await the report of January 2010.