Difficult shipping from United States reduces China's soybean stocks

Published 2022년 11월 16일

Tridge summary

Delays in US soybean shipments are expected to impact Chicago's benchmark soybean futures prices and increase soybean meal supplies in China, which will in turn boost China's hog prices. Pork prices in Guangdong, China's largest pork-consuming region, have reached a 1.5-year high and have risen nearly 60% since March 2022 due to a tight soybean meal supply. The Mississippi River's low water levels have also affected the transportation of grain, fertilizer, and other commodities, leading to delays in grain shipments to export ports. Despite these challenges, the US Department of Agriculture reports that US soybean exports are on track with the normal pace of the fall crop.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Two soybean traders told Reuters that shipments of up to 3 million tonnes of US soybeans are expected to arrive in October but will likely be delayed by about 15 to 20 days in November. While US commodity delays are likely to affect Chicago's benchmark soybean futures prices, tightening soybean meal supplies will boost China's hog prices. Pork prices in Guangdong, one of China's biggest pork-consuming regions, hit a one-and-a-half year high recently and have risen nearly 60 percent since March 2022. . A Singaporean trader with an international trading company, which owns soybean crushing plants in China, said: “China's soybean meal supply is very tight right now and it's getting worse. when American goods arrive late.” “Soybean meal prices will continue to stay high as this supply shortage will continue until the end of the year,” the trader added. According to the US Department of Agriculture, China - the world's largest soybean importer - is estimated to ship 98 million tons ...

Source: Vinanet