China's purchases are driving up soybean prices

The prices of the CBoT soybean futures have been rising again for three trading days. The market is supported by strong demand from China and a drought in Brazil.
It's been the same story for a month: China is buying and driving soybean prices up. Now there is also a risk of yield losses in South America.
Yesterday, the USDA announced the sale of an additional 264,000 tons of US soybeans to China.
Rainfalls are only distributed unevenly in Brazil. The sowing is delayed and market participants doubt whether the yields can even be average because of the delays.

Hansa Terminhandel GmbH
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