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12/03/2010

BEET PULP

stock issues in the port of Tarragona, have led to the pulp to the 131 € / t, but is expected to enter a boat next week to take another price Once on the 128 € / Tm. In all other ports without incident between 118 € / t and 128 € / t is the price range. Do not expect major changes to the pulp in the coming months.
regard to the national pulp, until the last week of February, the quantity of beet delivered to the North was 2,783,391 t (ACOR TM 907 000 and 1 876 tonnes Ebro), is much beet and Bañeza deliver Toro , slowing down a little end of season. Prices are located on the 115 € / Tm.
The market continues with the same passivity that the previous weeks. We continue to believe that while the grain continues at relatively low prices will not increase consumption of pulp.

FLOUR We

SOYBEAN bearish soybean meal, especially after the latest report from USDA.
data to consider:

1 - Exports to USA this past week, 384,600 tons were shipped between 600/800.000TM expected.
2 - According to the Celera March 5 Brazilian producers had sold 32% of the crop (37% a year ago)
3 - According to the Brazilian Safras forecast for Brazil this year will be 23.2 hectares mill . with an output of 67 mill tonnes to 2.75 Paraguay and 7 mill mill has Tm, Bolivia has 1.05 mill. and 2.1 mill tons., 0.750 mill has been fulfilled and 1.55 mill tonnes and finally have to Argentina 18.8 52.6 mill mill Tm. He highlighted the excellent productivity forecasts for this year.
4 - World Oil continues to point to that the prices of soybean meal yield to the pressure of production in the next three or four months. The production and supply will grow faster than demand, leading to a buildup in inventories and pressure on the price of flour.
5 - The USDA's report of March to cut out the harvest USA 91.42 mil metric tons (91.47 metric tons mill above), soybean ending stocks fell to 5.17 mill tonnes (5.71 mill. Tm above), for Brazil 67 miles Tm (Tm 66mill above), 53 unchanged in Argentina and worldwide Tm mill mill Tm 255.91 (255.02 Tm mill above) with a stock mill late Tm 59.73 (60.67 mill above Tm).
6 - We must also take into account that Brazil is moving normally, that U.S. soybean exports are decreasing each week and is expected to increase next crop planting.
7 - On the other hand consider that the funds are sold, the soybean oil price continues to rise is whether the rains delayed the harvest in Argentina or even if you have disease problems. We

following the downward trend for soybean meal and only a very unfavorable news could change this picture.