Dear Charlie,
I was interested to see this in my ProFarmer info out of
AU:
*Chinese imports of US soybeans and soyoil seems to
be linked to the fact they are having their coldest
winter in 30 years with temperatures 3 degrees below
those of last year.
*It has also driven US soybean crush margins in the US
to very high levels, keeping domestic crushing demand
high.
*Soyoil has been preferred over palm oil because it
solidifies at a lower temperature. This drove Chinese
imports of soy harder than expected as temperatures
fell.
*Argentina continues to have a dry outlook for this
week, but showers next week.
Canola:
*StatsCan reported slightly tighter than expected
stocks of canola on farm than expected.
*Stocks were pegged at 7.371 mill t, down from 9.686
mill t this time last year.
I was interested to see this in my ProFarmer info out of
AU:
*Chinese imports of US soybeans and soyoil seems to
be linked to the fact they are having their coldest
winter in 30 years with temperatures 3 degrees below
those of last year.
*It has also driven US soybean crush margins in the US
to very high levels, keeping domestic crushing demand
high.
*Soyoil has been preferred over palm oil because it
solidifies at a lower temperature. This drove Chinese
imports of soy harder than expected as temperatures
fell.
*Argentina continues to have a dry outlook for this
week, but showers next week.
Canola:
*StatsCan reported slightly tighter than expected
stocks of canola on farm than expected.
*Stocks were pegged at 7.371 mill t, down from 9.686
mill t this time last year.