Last week’s report on soybeans published by the USDA indicates the following figures:
The global production of soybeans was downgraded from 281.7 down to 281.6, i.e. remained almost unchanged. At the same time, the forecast for Brazil was upgraded by 3 million tons whule the USA saw a downgrade by 2,9 million tons.
The global consumption increased by 170K tons up to 268.9 million tons. The export and import remained almost unchanged.
The refining volume increased by 300K tons up to 238,236 million tons as compared to the previous reporting period.
Therefore, the reports turned out to be neutral.
The weekly export (August 30th - September 5th) reached 83K tons. As of the 2012-2013 marketing year, which ended on August 31st, the export 36 million 243 thousand tons, which is 1% below the figures seen at the end of the previous reporting period. The net sales of soybeans are 478K tons.
The report is made by the Commodity Trading Department of Masterforex-V Academy.
