Census: January Bean Shipments 3.32 Million Tonnes

Census export data for January released last week was smaller than expected across the soybean complex. January Census soybean exports were 3.32 million tonnes, 218,000 tonnes smaller than many analysts had anticipated and 191,000 tonnes less than January’s reported export inspections. Census reports of soybean exports had been running well above export inspections this marketing year, exceeding inspections by 626,000 tonnes from September through December. The Census Bureau perhaps reduced January exports to offset an overstatement of exports in previous months.

Soybean meal exports during January were 481,000 tonnes and soyoil exports during January were 35,400 tonnes, according to the Census Bureau. Soybean meal domestic use during the first 4 months of the 2004-05 marketing year was 4.8 percent above the 5-year average. Soybean oil domestic use during the first 4 months of the 2004-05 marketing year was 2.8 percent above the 5-year average.

USDA Boosts Asian Rust Monitoring Effort

Asian Rust is one of the top priority concerns at USDA, and a number of efforts to survey and monitor the plant disease are planned or underway. To make this information available to the public, USDA unveiled a new Asian soybean rust Website as part of a national soybean rust plant disease surveillance and monitoring network. “USDA is launching this Web site to help ensure farmers and producers have easy access to all the best information and guidance on soybean rust,” said Agriculture Secretary Mike Johanns. “This web page will serve as a one-stop shop for anyone who depends on the soy industry to help understand these issues and make informed decisions.”

The site, http://www.usda.gov/soybeanrust, provides information on the extent and severity of soybean rust outbreaks in the United States, Caribbean basin and Central America. It will give users up-to-date forecasts on where rust is likely to appear in the United States, reports where the disease exists by county, refers growers to county extension agents nationwide, lists the National Plant Diagnostic Networks laboratories and links to other Web sites to give producers effective disease management options.

All relevant USDA agencies are cooperating in this project, including: the Animal and Plant Health Inspection Service; the Cooperative State Research, Education and Extension Service; the Risk Management Agency; and the Agricultural Research Service. Along with government resources soybean industry organizations; state departments of agriculture; and many in the research and scientific communities also are contributing to the project.

Meanwhile, last week Brazil’s crop research agency Embrapa said that the country’s farmers had mostly managed to control the spreading of Asian soybean rust. “Drought mainly damaged crops in the south but also helped to curb the disease spreading to other states such as Mato Grosso do Sul, Goias and Minas Gerais,” said Embrapa soy researcher Cludia Godoy in Parana state.

Some soy rust losses were reported in the district of Privavera do Leste, Mato Grosso, where there was a strong outbreak of the disease, said Godoy, adding that figures were not yet available.

Argentina Expects Record Production

Argentina expects to harvest a record 37.5 million tonnes of soybeans in 2004-05 the agricultural secretariat said last week. “Rains in the last week have benefited the development of the later-seeded soy” and some plants that were seeded earlier as well, the secretariat said in a monthly crop report, adding that the greatest benefits had been seen in the main growing region.

Farmers planted 14.2 million hectares of soybeans this season, down 2.1% on 2003-04 due to fewer soy fields in Cordoba, Chaco, Santiago del Estero and La Pampa provinces, the government said. However, soy production is expected to soar above the 31.5 million tonnes produced last season because this year’s weather has been much wetter.

India Increases Base Price For Imported Soyoil

India’s federal government last week raised the base price on imported soyoil to $535 per tonne from $485/tonne, a result of pressure from oil mills. India’s government calculates the import duty on soyoil not on the actual landed cost of the oil, but on a state-set base price. The government revises its base price based on fluctuations in actual international prices of edible oil.

“The government’s move is welcome. They have raised the base price on soyoil, which would keep edible oil prices in India well-supported and also ensure good incomes to oilseed growers,” B.V. Mehta, executive director of the Solvent Extractors Association said.

In related news from India, Indonesian Agriculture Minister Anton Apriyantono visited New Delhi last week in an attempt to convince India to revoke a decision to raise crude palm oil (CPO) import duty to 80%. Anton asked India, Indonesia’s second largest CPO importer after China, to maintain the rate at 65%.

“We are ready to offer India the opportunity to export sugar to Indonesia in return for lowering the import duty,” Anton said as negotiations got under way. India has always had great interest in exporting its agricultural products, he noted, adding that Indonesia would keep buying Indian sugar.

Indonesia has set a quota to import 500,000 tonnes of sugar this year, up from 400,000-tonne quota last year, although it imported only 200,000 tonnes, mostly from Thailand. The Indian government recently raised CPO import duty to 80% from 65% to protect its farmers who make a living by growing soybean, a major substitute to palm oil.

Soy Complex Mostly Lower On Lack Of Fund Buying

The soy complex closed mostly lower on March 17 reflecting a lack of fund buying support. Strong export sales failed to boost the market. However, dry weather in the forecast for southern Brazil for next week was seen as a positive development as more crop damage is expected May bean futures closed down $0.73 finishing at $246.73; July was $0.83 lower, closing at $248.57 and August lost $1.43 ending at $247.65. May meal was down $1.21, closing at $216.93; July was $1.43 lower, finishing at $220.24 and August decreased $1.76 to finish at $220.68. May oil closed $4.19 lower to finish at $536.60; July increased $2.43, closing at $540.13; and August gained $3.75, ending at $536.82.