Palm oil all the way home and abroad to lower corn and soybean Futures Exchange

Originated in Mexico City overnight swine flu panic spread to the world. 27, a domestic futures market opened, the relevant class of agricultural product prices across the board fall feed, soybeans, soybean meal and palm oil have hit bottom main contract.

World Health Organization (WHO) has announced that a deadly new type of swine influenza virus as “a public health emergency of international influence,” it is likely to spread; Governments concerned have taken preventive measures to monitor the virus. According to the latest report, Mexico had 103 people died of swine flu.

Currently, Mexico, the United States and Canada, the flu outbreak in Asia and other places will be meat and feed demand impact. Three Asian countries?? China, Thailand and the Philippines have banned imports of live pigs from Mexico and the United States and pork products, more countries may follow suit later.

While Thailand, the Philippines and other countries are not from the United States and Mexico the basic import of pork products, but the governments of these countries still ban enacted to assure the public that products on the market can rest assured consumption. However, concerns about the outbreak may still affect the consumer, and indirect damage to grain, feed and other agricultural needs.

Market, panic led to yesterday’s Dalian Commodity Exchange, soybeans, soybean meal and palm oil futures prices fell sharply, both main contract hit a 5% daily limit. Meanwhile, the Chicago Mercantile Exchange (Chicago Board of Trade) electronic trading platform show, the Asian trading session, corn and soybean futures sharply lower.

At 14:36 Beijing time yesterday, May corn futures reported 3.62 U.S. dollars per bushel, from last week’s closing price of 3.77 U.S. dollars fell 5 3.82%; May soybean futures reported 9.88 U.S. dollars per bushel, from last week’s closing price of 10.40 U.S. dollars down the five 4.96%.

Beijing Oriental Iger, chairman Huang Dejun agricultural consulting firm, said the flu could lead to falling demand of poultry feed and corn, soybean meal and other cereal demand could decline followed. “This could lead people to further reduce the consumption of pork, to the current downturn in the farming industry, the impact of larger markets, which increased the impact of declining market for dietary consumption of psychological expectations, soybean prices may be further away market outlook Weak. ”

Swine flu outbreak, but also further worsened the situation of the breeding industry. Although last Wednesday (April 22) Chinese Premier Wen Jiabao chaired a State Council executive meeting said: timely start control measures to prevent excessive hog prices fell. But the industry believes that policy can effectively boost the aquaculture industry remains to be seen. Statistics show that since since April 2008, hog prices have more than 40% cumulative decline.

China Feed Industry Information Net analyst Wang Changmei that such a major impact of the epidemic on the sale of pigs is obvious, is expected to hog prices will fall further, and this will drag on the consumption of feed products. Market short term, is still difficult to recover. (Xinhua Wei Shuguang)