ARGN SOYOIL FOB:Mar/Apr:No SellerMay 806$-5
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SOYOIL Basis/Fob vs CBOT:
ARGENTINA-Mar No Seller/-750(NS/Byr 805.12)Apr NS/-840(NS/798.07)May-800/-850(806.88/795.86)-5$JJ-800/-850(815.70/804.68)-5BRAZIL-Mar NS/-700(NS/816.14)Apr-650/-800(839.95/806.88)+6May-700/-850(828.93/795.86)JJ-750/-900(826.73/793.66)
Market Dynamics:-Cbot Corn drops below $4 Bushel-Cbot SoyOil last night marks 43.57cent low/now 24pts away to Feb 2021 low 43.33cents-Petro/Brent crash $2 Barrel on US Rate cut hope drops-Cbot Soy Corn drops to 3yrs low on ample US/South America supplies
USA:Income from Agriculture now Free from Taxes-USA Rule:Citizens who earns atleast 2/3 of Gross Income from Farming/Fishing needs to pay Taxes-2023 Year Taxes need to be deposited before 1 March so US farmers in pressure to deposit Taxes, continues to distress Soybean selling
Bull run prevails in India Equity Mkts, taking Nifty to new record high for 5th day in row-Sensex near 73150
Cbot feel renewed pressure of US weekly Soybean sales dropping to 55000 Ton:lowest of season/Funds see US home Soybean stoks mounting
Cbot speculative Funds adds shorts in SoyOil on fear SouthAmerica larger shipments wud end US Export window-Rosario Exchange puts Argntna Soy crop 495 LacTon
*Europe Jan Oilseeds crush at 10yr high 35 LacTons*Argntna new Corn crop predicted record 570 LT, wud help Argntna to earn more from Exports despite Cbot prices dropping to 3yr low
*Cbot complex extends pressure as recent rains helps Argntna Soy crops:more rains likly very soon*KLC posts 42 Ringit weekly gains after dropping 72 RM in previous week as Funds focus Malasia stoks drop
Thou US farmers harvest a sizable Soy crop/Brzl Farmers harvest record high Crop in season-Brzl on way to harvest 2nd-largest crop on record-Atleast 3 US bound Ships prepares to load Soy at Brzl 2 Ports as Brzl Prices quoted below US-US Plants bought approx 1 LT Brzl Soy so far/LY Brzl shipped 4.20 LT Soy …