|
|
(once again gold breaks to a new high during the Hong Kong market...)
I ended up doing
more research again and not rewriting the article. Tomorrow.
Here are a few
more bits of news till I finish.
Commodity Online
reports that soybean may trade higher on firm overseas
market.
(emphasis mine) [my
comment]
Soybean
may trade higher on firm overseas market
2009-09-16
11:21:21
Fundamental
Analysis
Soybean (NCDEX October Contract) futures opened higher in tandem with
overseas market and made a high of 1968 levels. However, it could not
sustained higher levels due to favorable weather for crop and arrivals of new
crop started in Maharashtra and in some parts of Madhya Pradesh and managed
to close slightly lower at 1947 levels.
As per USDA’s weekly export sales report, this week's export sales were
above average expectations for soybeans and meal and in line for oil. Soybean
export sales were 830,600 tonne for 2009/10. [30.5 million bushels]
As of September 3, cumulative soybean sales stand at 49.2% of the USDA
forecast for 2009/2010 versus a 5 year average of 23.1%.
|
USDA
projection for soybean exports in 2008-9
|
1.265
|
billion bushels
|
|
Actual soybean exports in 2008-9
|
1.326
|
billion bushels
|
|
|
|
|
|
|
New crop sales
as of August 20, 2008
|
271
|
million bushels
|
|
|
|
|
|
|
New crop sales
as of August 20, 2009
|
477
|
million bushels
|
|
New crop sales
as of September 3, 2009
|
622
|
million bushels
|
|
|
|
|
|
|
USDA projection
for soybean exports in 2009-10
|
1.265
|
billion bushels
|
|
Delivery
|
OpInt
|
Change
|
Change in
|
|
|
Month
|
Aug-28
|
Sep-14
|
in OpInt
|
Bushels
|
|
|
9-Sep
|
774
|
|
-774
|
(3,870,000)
|
|
|
9-Nov
|
259020
|
253631
|
-5389
|
(26,945,000)
|
|
|
10-Jan
|
64536
|
66917
|
2381
|
11,905,000
|
Total new
|
|
10-Mar
|
27320
|
32509
|
5189
|
25,945,000
|
soybean futures
|
|
10-May
|
22577
|
22803
|
226
|
1,130,000
|
contracts sold
|
|
10-Jul
|
24473
|
30003
|
5530
|
27,650,000
|
between Aug-28
|
|
10-Aug
|
169
|
335
|
166
|
830,000
|
and Sept-14
|
|
10-Sep
|
81
|
85
|
4
|
20,000
|
40,535,000
|
|
10-Nov
|
23630
|
24435
|
805
|
4,025,000
|
|
|
11-Jan
|
79
|
201
|
122
|
610,000
|
|
|
11-Mar
|
37
|
40
|
3
|
15,000
|
|
|
11-May
|
2
|
2
|
0
|
0
|
|
|
11-Jul
|
14
|
14
|
0
|
0
|
|
|
11-Aug
|
0
|
0
|
0
|
0
|
|
|
11-Sep
|
0
|
0
|
0
|
0
|
|
|
11-Nov
|
909
|
919
|
10
|
50,000
|
|
|
12-Jul
|
8
|
9
|
1
|
5,000
|
|
|
12-Nov
|
254
|
254
|
0
|
0
|
|
|
Total
|
423883
|
432157
|
8274
|
41,370,000
|
|
Eric de Carbonnel
Market Skeptics
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by Eric de Carbonnel
| |
