Keep An Eye On USDA's Export Forecast For Soybeahs
There have been some big buys of U.S. soybeans in June. Analysts say it’s something to watch.
“Export sales have been a really fantastic component to give the market some confidence,” says Naomi Blohm with Total Farm Marketing.
Pro Farmer reports new-crop sales last week rose to 1.38 MMT with China buying more than 1 MMT. Old-crop sales were at the low end of the trade estimates, and 36% below the prior four-week average with China taking almost 60% of the total.