Soybeans: Good demand supports prices

This morning Chicago soybean futures are trading at premium for the second straight year. The good demand supports the prices. The US Department of Agriculture reported US export inspections of 1.667 million tons yesterday evening. The analysts' expectations were in a range between 1.05 and 1.55 million tons. China, by far the world's largest soybean importer, has been actively buying US beans. The US soybean harvest was 38% complete on Sunday, the USDA said in a weekly harvest progress report last night. The 5-year average is 28%, and analysts polled by the Reuters news service expected harvest progress of 36%. Institutional investors bought 1,000 contracts of CBoT soybeans yesterday.
Hansa Terminhandel GmbH
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