1. כנס לקוחות 12.3.08

2. The Soybean

3. The Soybean Flow Follow the money!

4. Field Ground transportation Elevator River Transportation Ocean Freight Ground transportation Crushing Transportation to Client

5. מקורות יבוא

6. The Soybean (money) components

7. Chicago Board Of Trade Supply (land sowed, weather, yields etc…) Demand (Food, Feed, Energy etc…) Stocks to Use ratio Funds (mainly technical) “Outside” markets

8. FIELD – The Supply

10. The US Grain and Soybean Belt

12. 6 weeks drought monitor animation http://drought.unl.edu/dm/6_week.gif

15. US Soybeans Stock Deviation

16. US Soybeans Carry Out and Stock To Use Ratio

17. US stocks are declining to minimum levels. No signs of sufficient rationing yet. Supply tightness in the 08/09 season could become more severe if a large increase in area is not secured.

19. Brazil Agriculture area Matto Grosso Amazonas M G del Sul S P Parana Rio Grande D S Santa Catarina Goias Minas Gerais Rio De Janeiro Para Bahia Tocantins

23. Relatively small increase in South America production is expected. Would not take much of a crop problem before production is lower than the previous year

24. Record yearly decline in world soybean production, assuming normal South American yields

25. Soy Complex

26. Soy Complex 2006-today

27. Crush Margin CBOT Averages: 2007 – 63, 2006 – 71, 2005 - 51