Soybeans: China's need for soybeans is growing, trade disputes worry

The soybean futures in Chicago trade again tomorrow with price gains. The attaché of the US Department of Agriculture in China increased its forecast of soybean imports for the 2018/19 season to 100 million tons. For the 2017/18 season it is 97 million tons. However, the trade dispute between the United States and China and the threat by US President Trump to impose $ 60 billion in import duties on Chinese goods are provoking unrest and uncertainty and preventing a more pronounced increase. Institutional investors yesterday bought 2,500 lots of CBoT soybeans. Today at 1:30 pm (due to the time change an hour earlier than usual), the US Department of Agriculture is releasing weekly US export sales. Analysts expect soybean exports in a range of 0.75 - 1.4 million tons.
/ Graphic: SaxoTrader