July 12 news,
①Theoretical cost of imported soybeans: U.S. soybeans in November 1360, the theoretical cost of Brazilian soybeans shipped in September to the November contract 4691, the theoretical reference price of oil 8300 evaluation meal is 4185, the average spot price of soybean meal in the coastal area yesterday is 4225, and the oil-to-meal ratio in September is 2.00.
②China’s soybean crushing volume has declined for two consecutive weeks. It is expected that the soybean crushing volume will return to 2 million tons+ starting this week. The US soybean supply and demand report will be released in the early hours of this Thursday. The market will be cautious before and after the report.
Of course, what we are most concerned about this week is the weather in the main soybean producing areas. According to the forecast of the Commodity Weather Group on Friday, in the next 6-15 days, the precipitation in the central and southern parts of the Midwest will reach Normal or above normal, while the Northwest Midwest will remain largely dry.
