July 19th – Soyabean meal

July 19th 2022

Soyabean meal

National Holidays: Monday, August 15th, San Martin Day

River Parana Draft Forecast:
Basis INA Report of July 18th and Depth Report of July 19th

River level is descending. Nevertheless at this moment a rebound is expected during September.

Grains and Markets:
Korea has bought 125 thousand tons of maize on August and September dates.
Jordan again looking for 120 thousand tons of barley December and January dates.
Nigeria has declared they will be importing 6.5 million tons of wheat during the 2002-2023 season.
Nigeria has also announced they will accept HB4 drought resistant GMO wheat.

Soyabean meal:
There is concern amongst soya crushers in Argentina because of the lack of bean input into the crushing factories, principally Upriver. Farmers are reported to be reluctant to ship soya beans to the crushing plants principally located at Upriver ports and hinterland. This is because of the growing inflation. Farmers want to hoard the beans in their on-farm storage silos (silo bags) and not send it to the crushing plants. “Tomorrow we will get more”. Some reports state that up to 50 per cent of the crushing installations are now stopped due to the lack of “raw material”.

If this situation persists there may be a shortage of meal and soya oil available for shipment.

The port authorities are feeling very content with statistics that show a record volume shipped through Necochea during the first half of 2022. The number is 4.5 million tons, a record figure for this period. It must also be considered that with the draft reduction caused by water shortage in the River Parana many larger vessels (Panamax) must complete at the Atlantic ports in order to make lifts worthwhile. Nevertheless the high premiums that must be paid for FOB purchases at these completion ports still encourage optimizing cargo loaded Upriver.

Necochea this evening

Weather the rest of the week. Bunker deliveries at Zona Comun:

Necochea this evening

Calmer weather during the rest of this week indicates there will be normal STS loading at Zona Comun.
Will keep you posted.
Best regards,
Antares Servicios Maritimos S.A.

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