09.
09.20
04:54

China's state-owned companies are increasing their soybean stocks

CBoT soybean prices are down for the first time in 12 trading days this morning. The losses remain manageable, however, as China continues to buy on a large scale and drought limits US yields.
China's state grain traders are stockpiling and are now building larger reserves. According to observations by traders in Singapore, this is the main reason for the increased prices.
This also applies to the massive purchase of other agricultural commodities, which China currently sources mainly from the USA in order to fulfill the trade agreement concluded in January.
In the United States, corn and soybean field ratings have declined 1% each over the past week. Only 65% of the soybean crops are classified in the top category “good-to-excellent”. Analysts had expected an even worse rating.

Source
Hansa Terminhandel GmbH
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