continue with the rise in prices, now added the national pulp in less than a week has risen 15 € (and we'll see). Sales have been closed and virtually no choice in the marketplace, that does not mean that there is no pulp. But the reality is that almost all the pulp has been removed in the south (not used) and finished Toro and La Bañeza withdrawals has been cut. Miranda is only pulp but with few sales today as prices rise to 134 € / Tm.
Regarding import prices fall the 154 € / t and in France the average home price is 135 € / Tm.
In short virtually already delivered the expected 400.000Tm beet in the South (with a decline between 20 and 50% over 2009), in the North there is retention of pulp and available only in Miranda and ports to more expensive prices every day, really hot August 1 and without an overview short term that may change.
SOYBEAN MEAL
The price increase in cereals and in particular wheat has not helped that soy had an adjustment in prices, frankly this August is proving very speculative in general. Here are some details:
1 - The USDA estimated August 6th a export sales for the 09/10 season of 6.000Tm (339,000 metric tons last week) and year of 1.168.200Tm 10/11 (1.144.200Tm previous week) with an expected range between TM and obviously 950/1.250.000 with China leading the way with 799.000TM (takes a 25% projected by the USDA).
2 - China's demand remains high, partly due to flooding that is taking the country, but did not affect its production of soybeans, if it forces the government to strengthen its basic food stocks to respond to affected areas.
3 - The demand for use in the fuel industry is holding up the prices of soybeans, up oils in general.
4 - Last week, the USDA estimated that 66% of soybean crops were good-excellent (67% last week), with a decrease in crops from the Midwest because of the extremely dry summer they are having.
5 - USA regards the climate is weakening in the whole production, but you start to talk about the harsh winter weather that South America is suffering which could affect crops. Then I put a map on USA soil moisture, which is not greatly altered.
6 - also observed that the market is very overbought in funding and the question is settled when the funds? We believe that it is premature, until they have secured the U.S. campaign will not begin to settle.
7 - follows Argentina's trade dispute with China.
very difficult week for all products, with retention of goods in general and with prices heading upward in very dangerous in that the final producer does not have sufficient liquidity to withstand another increase as in 2007. Despite the trend that makes us fear the short to medium term, prices will not fall for what we wish.
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