Suzhou has completely abolished housing purchase restrictions: there is no qualification review for buying a house, and the sale of new houses is still limited to two years.
On January 30, it was reported online that Suzhou had completely lifted purchase restrictions, and house purchases were no longer limited to area and number of units. In this regard, staff from the Suzhou Municipal Housing and Urban-Rural Development Bureau stated that there is no home purchase qualification review for purchasing new or second-hand homes, and the sales restriction policy for new homes remains for two years. The staff of the Suzhou Real Estate Trading Center also said, “Starting from today, the number of units will no longer be reviewed, nor will the qualifications for home purchase be looked at.” (The Paper)
U.S. soybean crushing profits fell 11% in the fourth week of 2024 compared with a week ago
The weekly crushing report released by the U.S. Department of Agriculture showed that U.S. soybean crushing profits fell by 11.2 percentage points last week compared with a week ago. This was the seventh decline in eight weeks. For the week ending January 26, 2024,1. U.S. soybean crushing profit was US$2.06 per bushel, compared with US$2.32/bu last week. For reference, crush profits in 2023 will average $3.29/bu.2. Illinois soybean oil truck quotes were 48.60 cents per pound, equivalent to $5.73 per bushel; a week ago it was 48.57 cents per pound, equivalent to $5.73 per bushel.3. The spot price of 48% protein soybean meal at Illinois soybean processing plants was US$372.35 per short ton, equivalent to US$8.66 per bushel; a week ago it was US$377.10 per short ton, equivalent to US$8.77 per bushel.4. The average price of No. 1 yellow soybeans during the same period was US$12.33/bu, compared with US$12.18/bu two weeks ago.
my country's imports of Brazilian soybeans CNF premiums and discounts fell to zero for the first time this year
In the context of the overall bumper harvest in South America and the heightened pressure on the market of Brazilian soybeans, the pre-sale price of Brazilian soybeans fell faster in late January. According to monitoring, on January 29, the CNF quotation of Brazilian soybeans for the March shipping date was US$444/ton, and the CNF price rose. The water quotation fell to 0 cents/bushel for the first time this year, with a combined customs price of 3,647 yuan/ton at port (3% import tariff, 9% value-added tax), a week-on-week decrease of 163 yuan/ton. (National Grain and Oil Information Center)USDA: Malaysian palm oil production is expected to increase to 19 million tons this year
According to foreign media reports, the United States Department of Agriculture (USDA) Commissioner in Kuala Lumpur stated in a report that Malaysian palm oil production will increase from 18.4 million tons in 2022/23 to 19 million tons this year. The report noted that Malaysia was less affected by El Niño than expected, with fewer labor force challenges. Export volume will increase from 15.36 million tons in the previous year to 16.6 million tons. Ending stocks in 2023/24 are expected to fall from 2.33 million tons to 1.65 million tons.
National Grain and Oil Information Center: The United States is expected to purchase a limited amount of Brazilian soybeans in the future
As the price difference between U.S. and Brazilian soybeans widens, the U.S. recently purchased two shipments of Brazilian soybeans. According to monitoring, the United States will purchase about 3.5 million tons of Brazilian soybeans in 2023, and it is basically the oil plants on the east coast of the United States that purchase Brazilian soybeans. Because the shipping costs for Brazilian soybeans to be transported to inland oil plants through the countercurrent of inland rivers in the United States are relatively high, it is expected that the United States this year will be similar to 2023. , mainly East Coast oil mills purchase Brazilian soybeans. The overall import quantity is relatively limited, or less than 5 million tons. Pay attention to the trend of the price difference between Brazil and the United States in the later period. (National Grain and Oil Information Center)
Downstream stocking, natural rubber stocks in bonded areas continue to decline
The volume of cyclically labeled rubber arriving at the port has increased slightly, and downstream tire factories have begun to stock up for the post-holiday period. Qingdao bonded warehouses and general trade inventories have both been destocked. However, the price decline has inhibited downstream stocking efforts to a certain extent. As of January 28, 2024, the total inventory of natural rubber bonded and general trade in Qingdao was 658,000 tons, a decrease of 12,600 tons or 1.88% from the previous period. Inventories in the bonded area decreased by 7.04% month-on-month to 96,800 tons, and general trade inventories decreased by 0.94% month-on-month to 561,200 tons.
Datagro lowers Brazilian soybean production forecast by 2.8%
According to foreign media reports, according to the fifth survey by consulting agency Datagro, Brazil’s 2023/24 soybean crop output, currently being harvested, is expected to be 148.55 million tons, a 2.8% decrease compared to the previous survey. The reason for the reduction in production is still weather problems. The yield is expected to drop to 3269 kg/hectare, which is 8.9% lower than the 3589 kg/hectare in 2022/23. If the above data is confirmed, the country's harvest will fall 7.3% from the record 160.234 million tons in 2022/23, affected by dry and hot weather in Mato Grosso state. The consulting agency also pointed out that Brazil's oilseed planting area will increase for the 17th consecutive year in 2023/24, increasing from 44.684 million hectares in 2022/23 to 45.445 million hectares, an increase of 1.7%.
The total iron ore inventory in the seven major ports of Australia and Brazil is 12.846 million tons, an increase of 120,000 tons from the previous month.
Mysteel data: Satellite data shows that from January 22 to January 28, 2024, the total iron ore inventory in seven major ports in Australia and Brazil was 12.846 million tons, an increase of 120,000 tons from the previous month, and was near the moving average since the fourth quarter. , but overall slightly lower than the average since January.
As of January 20, Japan's natural rubber (RSS) inventory rose to 6,240 tons
According to data from the Osaka Exchange (OSE) official website on January 30, as of January 20, 2024, the rubber (RSS) inventory in the exchange's designated warehouse was 6,240 tons, an increase of 441 tons from 5,799 tons as of January 10.
Vale's iron ore output in the fourth quarter of 2023 was 89.397 million tons, a year-on-year increase of 10.6%
Brazil’s Vale (Vale) released its production and sales report for the fourth quarter of 2023. The production and sales of iron ore are as follows:
1. Production: In the fourth quarter of 2023, Vale's total iron ore production was 89.397 million tons, an increase of 3.7% month-on-month and 10.6% year-on-year. Among them, the output of pellets was 9.851 million tons, an increase of 7.4% month-on-month and 19.2% year-on-year. The target output in 2024 remains unchanged at 310-320 million tons.
2. Sales volume: In the fourth quarter of 2023, iron ore sales totaled 90.328 million tons, an increase of 12.1% month-on-month and a year-on-year decrease of 1.8%. Among them, pellet sales were 10.285 million tons, an increase of 19.4% month-on-month and 17.0% year-on-year.
Article forwarded from: Golden Ten Data
