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BEET PULP

Today ends in May and have already completed all the factories. The beet total received was 2,332,550 tons in Ebro with yields per hectare of 95.4 MT / Ha. record in Europe, demonstrating the high productivity of the English countryside.

The situation with regard to pulp mills, is complicated in Miranda and the Bañeza far accumulated stock. Not so in ACOR and Toro that they are practically empty. Prices are located on the 110 € / t in Miranda and 114 € / t in the Bañeza.

Guadalete This month begins in the south with prices similar to the north, although it is still early to have a level.

level of import prices do not give in and go from the 129 € / t in Tarragona to 130 € / t in Cartagena. However a possible correction in the euro against the dollar and low cereal prices could bring down the price of imports over the coming months.

SOYBEAN MEAL

Finally there was strike in the English ports and ships arrived laden with soybean meal ended with restrictions on the loads of these last two months.

data to consider:

1 - from Chinese Imports U.S. in April were 4.2 million tons and the Chinese government in June expected to be from 5.8 to 6 mill.Tm.

2 - According to the USDA for the 09/10 campaign exports have reached 46 mill.Tm 12% more than last year. The forecasts for the year 10/11 is 49 mill.Tm.

3 - According to the CFTC the week of 5 to May 11 mutual funds were sellers of contracts, reducing open interest of 11.2% to 6 , 7%. A May 18 are at a 2.6% net buyer position.

4 - A May 24 USA soybean planting reached 53% of planned area (57% average of recent years).

5 - in Argentina on 27 May have harvested 91.2% with an average yield of 30 quintals / ha. with a volume of 51 mill.Tm (expected 54.8 mill.Tm). Weather conditions may cause a slight delay the final harvest.

6 - U.S. exports last Thursday week reached 295,000 tons (564,000 tonnes earlier and expected 450/600.000) with 175,000 tonnes for the 2009/10 season.

ships arrived and gradually the price of soybean meal is dwindling. Only two notes, the first multinational companies as they bring the ships are virtually sold out (is not it?) Although there is provision for new arrivals in the month of June. And the second is that if the bases were to 0, the price of soybeans would have between € 270 / 280 / t, which are in the hands of multinationals and who want to lower the bases by June or July.