For five trading days, CBoT soybean futures prices have risen and reach their three-week high this morning. China is again buying US beans since tensions have broken loose in the trade dispute between the two superpowers.
However, China's demand is currently weak and Brazil has begun to sell its bumper crop. With Argentina's soybean harvest disappointing this year, the market is likely to rebalance soon, brokers in Far East Asia suspect this morning.
Yesterday, a Chinese importer bought a shipload of US soybeans for delivery in August. The loading takes place in the northwest of the USA on the Pacific. It's the first deal on US soybeans to China since the two countries have decided to end the trade dispute. The Chinese state grain purchaser also inquired yesterday about prices for US soybeans for the first time since April.
Text: HANSA Derivatives Trading GmbH / / Graphic: Saxo-Trader 
