Alpari Grain Outlook 02/01

By Tim Hannagan,

Shutterstock photo

Thursday's weekly export sales report put bean exports at 386 t.m.t. sold last week for future shipment versus 383 the week prior and 42% under the four week average. Key player China was in for 292. New crop exports for the 2013-14 crop year or delivery after September 1, 2013 to September 1, 2014 were 867 t.m.t. with China in for 694.

Slower old crop sales of 386 t.m.t. show importers are being patient as weather results on yields in Brazil in February will determine crop size and price. Good rains and China and others will buy from Brazil at cheaper prices; lack of rain and higher prices. China will take those new crop year purchases of 694 t.m.t. and switch delivery dates to near-term delivery and their previous purchases price value.

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This article appears in: Investing Commodities
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