24.
07.20
04:52

CBoT soybean futures before second consecutive weekly gain

The prices of the CBoT soybean futures rise this morning on the third consecutive trading day and will probably make a weekly profit today for the second time in a row. Demand for US soybeans from China supports the soybean market.
The schedule for shiploads on the Pacific coast of the USA is full, it is said from dealer circles. Weekly soybean and corn shipments for US exports reached a multi-year high in July. Most of it goes to China.
China already bought 1.967 million tons of US corn and 1.696 million tons of soybeans by July 16. Since March 2019, not so many U.S. agricultural commodities have been exported in a month. Yesterday the USDA also announced an export order for 132,000 tons of US soybeans to "Unknown".
Because the political tensions between the United States and China are increasing almost daily, traders now expect no further increases in shipments from the United States to China.

Source
Hansa Terminhandel GmbH
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