December 13, 2017, 3:38 pm
Facebook iconTwitter iconYouTube iconGoogle+ icon
1 Philippine Peso = 0.07286 UAE Dirham
1 Philippine Peso = 2.2371 Albanian Lek
1 Philippine Peso = 0.03532 Neth Antilles Guilder
1 Philippine Peso = 0.34185 Argentine Peso
1 Philippine Peso = 0.02619 Australian Dollar
1 Philippine Peso = 0.03532 Aruba Florin
1 Philippine Peso = 0.03968 Barbados Dollar
1 Philippine Peso = 1.64127 Bangladesh Taka
1 Philippine Peso = 0.0329 Bulgarian Lev
1 Philippine Peso = 0.00748 Bahraini Dinar
1 Philippine Peso = 34.73174 Burundi Franc
1 Philippine Peso = 0.01984 Bermuda Dollar
1 Philippine Peso = 0.0268 Brunei Dollar
1 Philippine Peso = 0.13611 Bolivian Boliviano
1 Philippine Peso = 0.06556 Brazilian Real
1 Philippine Peso = 0.01984 Bahamian Dollar
1 Philippine Peso = 1.27679 Bhutan Ngultrum
1 Philippine Peso = 0.20509 Botswana Pula
1 Philippine Peso = 397.22221 Belarus Ruble
1 Philippine Peso = 0.03964 Belize Dollar
1 Philippine Peso = 0.02545 Canadian Dollar
1 Philippine Peso = 0.01965 Swiss Franc
1 Philippine Peso = 13.01091 Chilean Peso
1 Philippine Peso = 0.13129 Chinese Yuan
1 Philippine Peso = 59.76786 Colombian Peso
1 Philippine Peso = 11.15079 Costa Rica Colon
1 Philippine Peso = 0.01984 Cuban Peso
1 Philippine Peso = 1.85774 Cape Verde Escudo
1 Philippine Peso = 0.43159 Czech Koruna
1 Philippine Peso = 3.50853 Djibouti Franc
1 Philippine Peso = 0.12539 Danish Krone
1 Philippine Peso = 0.95833 Dominican Peso
1 Philippine Peso = 2.2829 Algerian Dinar
1 Philippine Peso = 0.26354 Estonian Kroon
1 Philippine Peso = 0.35337 Egyptian Pound
1 Philippine Peso = 0.53936 Ethiopian Birr
1 Philippine Peso = 0.01684 Euro
1 Philippine Peso = 0.04169 Fiji Dollar
1 Philippine Peso = 0.01486 Falkland Islands Pound
1 Philippine Peso = 0.01487 British Pound
1 Philippine Peso = 0.08926 Ghanaian Cedi
1 Philippine Peso = 0.93552 Gambian Dalasi
1 Philippine Peso = 178.63095 Guinea Franc
1 Philippine Peso = 0.14558 Guatemala Quetzal
1 Philippine Peso = 4.02202 Guyana Dollar
1 Philippine Peso = 0.1549 Hong Kong Dollar
1 Philippine Peso = 0.46552 Honduras Lempira
1 Philippine Peso = 0.12694 Croatian Kuna
1 Philippine Peso = 1.24167 Haiti Gourde
1 Philippine Peso = 5.29563 Hungarian Forint
1 Philippine Peso = 269.1865 Indonesian Rupiah
1 Philippine Peso = 0.07009 Israeli Shekel
1 Philippine Peso = 1.27806 Indian Rupee
1 Philippine Peso = 23.49306 Iraqi Dinar
1 Philippine Peso = 705.13886 Iran Rial
1 Philippine Peso = 2.06944 Iceland Krona
1 Philippine Peso = 2.47282 Jamaican Dollar
1 Philippine Peso = 0.01405 Jordanian Dinar
1 Philippine Peso = 2.25091 Japanese Yen
1 Philippine Peso = 2.04067 Kenyan Shilling
1 Philippine Peso = 1.38333 Kyrgyzstan Som
1 Philippine Peso = 79.98016 Cambodia Riel
1 Philippine Peso = 8.15476 Comoros Franc
1 Philippine Peso = 17.85714 North Korean Won
1 Philippine Peso = 21.5879 Korean Won
1 Philippine Peso = 0.00599 Kuwaiti Dinar
1 Philippine Peso = 0.01627 Cayman Islands Dollar
1 Philippine Peso = 6.64028 Kazakhstan Tenge
1 Philippine Peso = 164.68253 Lao Kip
1 Philippine Peso = 29.98016 Lebanese Pound
1 Philippine Peso = 3.0371 Sri Lanka Rupee
1 Philippine Peso = 2.48373 Liberian Dollar
1 Philippine Peso = 0.26984 Lesotho Loti
1 Philippine Peso = 0.06049 Lithuanian Lita
1 Philippine Peso = 0.01231 Latvian Lat
1 Philippine Peso = 0.02708 Libyan Dinar
1 Philippine Peso = 0.18758 Moroccan Dirham
1 Philippine Peso = 0.34038 Moldovan Leu
1 Philippine Peso = 1.03175 Macedonian Denar
1 Philippine Peso = 27.00397 Myanmar Kyat
1 Philippine Peso = 48.25754 Mongolian Tugrik
1 Philippine Peso = 0.15954 Macau Pataca
1 Philippine Peso = 6.97619 Mauritania Ougulya
1 Philippine Peso = 0.67083 Mauritius Rupee
1 Philippine Peso = 0.30893 Maldives Rufiyaa
1 Philippine Peso = 14.20853 Malawi Kwacha
1 Philippine Peso = 0.37825 Mexican Peso
1 Philippine Peso = 0.08082 Malaysian Ringgit
1 Philippine Peso = 0.26978 Namibian Dollar
1 Philippine Peso = 7.06349 Nigerian Naira
1 Philippine Peso = 0.60937 Nicaragua Cordoba
1 Philippine Peso = 0.16524 Norwegian Krone
1 Philippine Peso = 2.0454 Nepalese Rupee
1 Philippine Peso = 0.02854 New Zealand Dollar
1 Philippine Peso = 0.00763 Omani Rial
1 Philippine Peso = 0.01984 Panama Balboa
1 Philippine Peso = 0.06416 Peruvian Nuevo Sol
1 Philippine Peso = 0.06375 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.16171 Pakistani Rupee
1 Philippine Peso = 0.07086 Polish Zloty
1 Philippine Peso = 111.49603 Paraguayan Guarani
1 Philippine Peso = 0.07223 Qatar Rial
1 Philippine Peso = 0.07805 Romanian New Leu
1 Philippine Peso = 1.16704 Russian Rouble
1 Philippine Peso = 16.57698 Rwanda Franc
1 Philippine Peso = 0.0744 Saudi Arabian Riyal
1 Philippine Peso = 0.15376 Solomon Islands Dollar
1 Philippine Peso = 0.26488 Seychelles Rupee
1 Philippine Peso = 0.13228 Sudanese Pound
1 Philippine Peso = 0.16689 Swedish Krona
1 Philippine Peso = 0.02681 Singapore Dollar
1 Philippine Peso = 0.01487 St Helena Pound
1 Philippine Peso = 0.4406 Slovak Koruna
1 Philippine Peso = 151.38888 Sierra Leone Leone
1 Philippine Peso = 11.05159 Somali Shilling
1 Philippine Peso = 412.7976 Sao Tome Dobra
1 Philippine Peso = 0.17361 El Salvador Colon
1 Philippine Peso = 10.21786 Syrian Pound
1 Philippine Peso = 0.26978 Swaziland Lilageni
1 Philippine Peso = 0.64663 Thai Baht
1 Philippine Peso = 0.0499 Tunisian Dinar
1 Philippine Peso = 0.04555 Tongan paʻanga
1 Philippine Peso = 0.07593 Turkish Lira
1 Philippine Peso = 0.13154 Trinidad Tobago Dollar
1 Philippine Peso = 0.59567 Taiwan Dollar
1 Philippine Peso = 44.30555 Tanzanian Shilling
1 Philippine Peso = 0.53914 Ukraine Hryvnia
1 Philippine Peso = 71.66666 Ugandan Shilling
1 Philippine Peso = 0.01984 United States Dollar
1 Philippine Peso = 0.57401 Uruguayan New Peso
1 Philippine Peso = 160.53571 Uzbekistan Sum
1 Philippine Peso = 0.19792 Venezuelan Bolivar
1 Philippine Peso = 450.57538 Vietnam Dong
1 Philippine Peso = 2.11786 Vanuatu Vatu
1 Philippine Peso = 0.05142 Samoa Tala
1 Philippine Peso = 11.04186 CFA Franc (BEAC)
1 Philippine Peso = 0.05357 East Caribbean Dollar
1 Philippine Peso = 11.51528 CFA Franc (BCEAO)
1 Philippine Peso = 1.99881 Pacific Franc
1 Philippine Peso = 4.95933 Yemen Riyal
1 Philippine Peso = 0.26986 South African Rand
1 Philippine Peso = 102.96627 Zambian Kwacha
1 Philippine Peso = 7.18056 Zimbabwe dollar

China import crackdown, war on smog seen boosting soybean margins

GUANGDONG- China’s crackdown on genetically modified (GMO) soybean imports and its intensifying war on smog this winter will boost soymeal prices and inflate crushers’ margins, extending an unexpected windfall for the oilseeds sector, executives said on Wednesday.

Crushers in the world’s top importer returned to profit in August, after months of losing cash, as the soymeal glut depleted due to strong demand from the livestock industry.

Soymeal prices will be supported by “the regulations on GMO and the environmental crackdown,” said Si Yao, head of trading in China at ADM (Shanghai) Management Co., Ltd, at an oilseeds conference.

“Some plants did not get GMO certificates, and that will support prices in the short term,” he said. 

The most-active soymeal prices were last at 2,825 yuan ($426.57) per ton while the Dalian crush margin 65.75 yuan per ton, compared with losses of 70 yuan in early August before plants returned to profit. They had been losing money since February.

The comments come as Beijing takes longer to issue safety certificates for cargoes of GMO soybeans, forcing at least two plants to suspend operations and tightening supplies of soymeal in the south.

It’s the latest major jolt to the world’s largest soybean market after major crushers shut plants due to delayed cargoes in August.

The subject was a hot topic of discussion at an oilseeds conference organized by Dalian Commodity Exchange this week.

“Getting a certificate is not as easy as before. Some beans could not be loaded, which will support crushing margins in the next few months,” said Yanchuan Li, general manager of the oilseeds processing division for COFCO.

The tougher import measures and the suspension of two plants caused panic among some crushers, which have quite low inventory levels, said a soymeal trader based in southwestern China on the sidelines of the conference.

On Tuesday, one of the plants reopened.

An environmental crackdown targeting the country’s 28 smoggiest cities across the north will also prop up prices and crushing margins.

“There will be stricter, more detailed environmental supervision measures. It will also affect normal operations and product delivery at some crushers,” said Yao.

Stringent steps to curb output across heavy industry have roiled commodities markets from natural gas to aluminum and soymeal.

“If the air is not nice in northern China, the environment is not good and crushing plants will have to limit operations, it will also tighten supplies of soymeal,” said Li with COFCO. 

Meanwhile, Chicago soybean futures rose for a second session on Thursday, with prices underpinned by strong demand from US processors and expectations of higher imports by top buyer China.

Wheat bounced back after suffering its biggest one-day decline since early September in the previous session, while corn edged higher.

The Chicago Board of Trade most-active soybean contract Sv1 added 0.2 percent to $9.77-3/4 a bushel, having climbed 0.9 percent in the last session.

Wheat gained 0.4 percent to $4.21-1/2 a bushel after dropping 1.9 percent on Wednesday, the biggest single-day decline since Sept. 7, while corn added 0.1 percent to $3.38-1/2 a bushel.

US soybean processors accelerated their crush pace in October to the fifth highest on record and second highest ever for the month, the National Oilseed Processors Association said on Wednesday.

NOPA said that its members crushed 164.242 million bushels of soybeans in October, up from 136.419 million bushels in September. The October crush last year was 164.641 million bushels, which was the highest ever for the month. – Reuters 

Typically, soybean futures climb after the US harvest ends and selling by farmers slows. The US Department of Agriculture late on Monday said the soybean harvest was 93 percent finished.

There was additional support for soybeans stemming from expectations of strong demand from China, which buys more than 60 percent of soybeans traded across the globe.

China will import 100 million tons of soybeans in 2017/18, a senior executive at COFCO Corp forecast on Wednesday, topping official US and Chinese estimates for intake by the world’s top importer of the oilseed.

“Both pieces of news helped oilseed prices,” said Tobin Gorey, director of agricultural strategy at Commonwealth Bank of Australia. “Soybean prices are nearing the same thicket of technical levels that prompted selling on the way down. On the way up, the same levels might instead prompt some buying.”

US soybean processors last month squeezed the lowest amount of soyoil from each bushel of beans in two years, according to an industry report on Wednesday, raising concern about the 2017 soy crop’s overall oil content.

Less oil per bushel of beans would mean tighter supplies and higher prices for the vegetable oil used by food and biofuel producers, but could bolster margins for processors.

Commodity funds were net buyers of Chicago Board of Trade soybean, soyoil, corn and soymeal futures contracts on Wednesday, and net sellers of wheat, traders said. 

In the wheat market, the focus is on Egypt which set a tender on Wednesday to buy an unspecified amount of wheat from global suppliers for shipment from Jan. 1-10. 
Egypt, the world’s biggest wheat importer, has been buying mainly from the Black Sea region. Grains prices at 0236 GMT – Reuters 
 
Rating: 
No votes yet

Column of the Day

Unhealthy foods

By PHILIP S. CHUA | December 13,2017
‘Hazardous to our health: Refined sugars, artificial sugars, processed meats/vegetables/fruits, etc., potato chips, and soft drinks of any kind.’

Opinion of the Day

Special Science & Nature City of the Philippines

By DAHLI ASPILLERA | December 13, 2017
‘1982--The 1st Science Community. Easily, the choice was Los Baños. Over the years, Los Baños and UPLB were consistent in producing research and development (R&D) outputs of service to the community. --DOST Secretary Dr. Fortunato Tanseco de la Peña.’