Newsletter summary
Affected by the increase of production in the international sugar market and domestic demandBaccarat540200mlThe trend of Zheng Tang is weak; Meiyu and feed price differentiation in South ChinaBaccarat540200mlEgg market volatility is weak; high-yield wheat is expected to limit the upward price of corn; the cost of American beans and sowing delay, the center of gravity of even meal price has moved up; horse palm exports improved, palm oil market shock finishing; the second breeding market is active, pig spot prices are bullish.
Text of news flash
[rising sugar production in India, increasing pressure on global sugar supply]
With the increase in sugar content during the 24th crushing season in the Indian state of Massachusetts, the sugar content has increased by 4%.Baccarat540200ml.38%, the supply pressure on the global sugar market continues to increase. ISMA, the Indian sugar association, has proposed an increase in the export quota of 2 million tons, although there is no final conclusion. In Brazil, sugar production increased by 65.91% compared with the same period last year, and the price of raw sugar has fallen somewhat, but sugar revenue is still dominant. In Thailand, although the output of 23ram24 fell year-on-year, Datagro predicted that production would increase next year, showing the positive effect of expanding acreage.
[the production and marketing of domestic sugar industry is sound, and the gap between sugar production and demand is narrowed]
Data released by the China Sugar Industry Association show that domestic sugar production and sales are better than expected, and industrial inventories remain at a normal level. Import profits remain positive, while China's Ministry of Agriculture and villages predicts that sugar production will resume growth in 2024-25, which is expected to reach 1.Baccarat540200ml, 1 million tons, narrowing the gap between production and demand.
[egg prices are affected by the plum rain season, showing a weak trend]
The number of new laying hens increased, but the laying efficiency decreased due to the rise of temperature, and the shortage of supply was alleviated. The arrival of the rainy season in the south and the high temperature in the north make it more difficult to store eggs and speed up the market, but the price is weak as a whole.
[corn price is affected by the expected high yield of wheat, showing a weak volatility in the short term]
The surplus grain in domestic corn producing areas continues to decrease, the grain source in Northeast China is basically transferred to the channel, the grass-roots grain source in North China continues to decrease, and the demand for storage before wheat harvest leads to an increase in short-term quantity. Wheat is growing well, high-yield expectations are under pressure, and corn prices are expected to fall high in the short term.
[the increase in the price of American beans leads to a rise in the price of even meal]
The Fed is expected to cut interest rates lower, the dollar strengthens, the renminbi depreciates and the cost of imported soybeans rises. There is too much rainfall in soybean producing areas in the United States, affecting the sowing progress, the price of American soybean meal has risen sharply, and the price pressure of American soybean has increased. Domestically, the number of imported soybeans to Hong Kong is increasing, and the opening rate of oil plants remains high, but the turnover of soybean meal is light.
[Palm oil prices are affected by the improvement in horse palm exports, showing a shock finishing]
Horse palm production increased by 18-26% in May, exports in the first 25 days increased by 2-3%, and Indonesia's palm oil exports increased by 10.8% in April compared with the same period last year. The acceleration of sowing progress of American beans and worries about the export of South American bean products have led to a strong trend of CBOT soybeans. Domestic soybean oil inventory increased, palm oil inventory decreased slightly.
[the enthusiasm of second breeding in the pig market has increased, and the spot price has risen]
The enthusiasm of pigs on the second child in the market has increased, and the spot price has risen. The market slaughter is at a low level before the Dragon Boat Festival, which verifies the decreasing trend of pig supply in the market. The number of farmers out of the column is relatively small, the second breeding market continues to push up pig prices, the overall increase still needs to pay attention to the market average weight and second breeding situation.