The largest domestic and international vegetable oil plant market bullish factors from the U.S. soybean stocks Chen nervous.
Brazil shipment delays, potential port workers strike, and the Brazilian corn, sugar exports increase and other factors led the Brazilian port of shipment situation worse, the estimated delay of 60 to 65 days. Brazilian soybean temporary shipping difficulties, making global buyers turn to buy U.S. beans.
In addition, the domestic port stocks fell to 4,000,000 tons of soybean, if sustained development, the latter will be reduced to 3,000,000 tons, a lot of refineries will face no beans can be squeezed situation, but also led some companies to increase U.S. soybean purchases.
However, we should note that the U.S. soybean stocks Chen occurred against the backdrop of tight global vegetable oil supply surplus. At present, wire stripper not no oil or grease available abnormal strong demand, on the contrary, the market is slow destocking process, U.S. soybean stocks Chen tight oil market support for a limited role.