Reports of a prominent state buyer---presumed to be China--purchasing U.S. soybean exports helped push up CBOT soybean futures Monday. But today, that effect is less noticeable--with the most-active contract rising 0.2% in early trading. That sale was reported as anywhere between 300,000 metric tons and 600,000 tons--however, the USDA did not confirm it. The government did post a flash notice today of 105,000 tons of soybean meal sold to Colombia for delivery in the 2025/26 marketing year. "The irony - now that beans have rallied 50 cents, we are no longer 'cheap,'" says Naomi Blohm of Total Farm Marketing in a note. "We are now literally 50 to 60 cents higher than South American bids. So I'm guessing that further export sales may be on pause?" (kirk.maltais@wsj.com)
Dow Jones Newswires
Soybeans Stay Higher on Reports of Chinese Buying — Market Talk
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Reports of a prominent state buyer---presumed to be China--purchasing U.S. soybean exports helped push up CBOT soybean futures Monday. But today, that effect is less noticeable--with the most-active contract rising 0.2% in early trading. That sale was reported as anywhere between 300,000 metric ton…