CBoT soybean prices can stay positive this morning as China continues to order US soybeans.
There is currently a lot going on in China, says Ole Houe, commodity broker in Sidney Australia. This also applies to the prices for soybeans. Chinese oil mills are currently shopping in the United States. State-owned companies such as Sinograin are also among the buyers. The company yesterday ordered 120,000 US soybeans for delivery in December from a Pacific port.
The Chinese government asked last week to refrain from ordering agricultural commodities from the United States due to various political tensions with the United States. However, most companies ignore this because US soybeans are currently the cheapest on the world market.
Source
Hansa Terminhandel GmbH