Soybeans were higher on commercial and technical buying. Weekly export sales were larger than expected, with Argentina the big buyer. Those beans will likely be processed and resold, at least partially to China, following an agreement between Buenos Aires and Beijing. The trade continues to wait for signs of new outright demand for U.S. soybeans from China. There were late week rumors around the Pacific Northwest, but nothing firm. U.S. beans, without the tariff, would be competitively priced with Brazilian beans.
Continue reading Wheat leads on new export demand at Brownfield Ag News.
