The soybean market is waiting for news of more purchases by China.
Market analyst Arlan Suderman, chief commodities economist with INTL FCStone, says there are rumors of another two million metric tons to be purchased by the Chinese.
“At this point, that probably would not be enough to really materially move the market,” Suderman says. “It’s certainly positive, but not enough to make a big dent, with the expectation that the bulk of China’s purchases are probably going to go south of the Equator here in the weeks ahead with the new crop harvest already started in parts of Brazil.”
There are also rumors China in preparing to buy U.S.
Continue reading Markets wait for China news at Brownfield Ag News.
