US soy is in demand on the world market. So far, 36.36 million tons have been shipped, which is less than in the previous year, but significantly more than in the 2019/20 season. For today's WASDE, market participants expect production cuts in the South American crop that the attractiveness of US beans should increase again. The fundamental news environment is giving beans an overall tailwind. Yesterday, the USDA reported two export sales totaling 460,000 tons (132,000 tons to China and 332,000 tons to "Unknown"). Both sales will be served from the 2022/2023 harvest.
Source
VR AgrarBeratung AG
