The price of CBoT soybean futures has been rising again for two trading days after the market recovers from a six-month low. The price increases are limited by high inventories in the world.
China's importers are currently buying in Brazil, where farmers are reluctant to sell due to the weak national currency. The worldwide supply is probably larger than previously estimated. In Brazil and Argentina, crop forecasts had recently been revised upwards.
The USDA joined in yesterday's WASDE monthly report. The final stock of the 2019/20 season is now estimated at 102.44 million tons. In February the forecast was 98.86 million tons. 
Source
HANSA Terminhandel
