US soybeans: huge exports from China cause future prices to rise

The CBoT soybean futures prices rise this morning for the second day in a row. The poor conditions of the field stocks in the US make market participants bullish and outweigh the fact that supplies around the world are still comfortable.
China bought the largest one-day quantity of US soybeans on Tuesday with 1.762 million tons.
On Monday, the USDA ranked only 68% of the US soybean field holdings in the top "good-to-excellent" category. Analysts had expected it to be 71%.
The euro exchange rate against the US dollar rises to a four-month high.

Hansa Terminhandel GmbH
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