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| There is a Chinese soy crush delegation in Milwaukee today. They signed frame contracts with exporters like they do most years. These were soybeans they were going to buy from the US anyway and isn't additional demand. They are unpriced and get priced as they are shipped over the course of the crop year. They're largely symbolic with most exporters not reporting the frame contracts to the USDA. However one or two usually do so we may see a large announcement later this week. I would note that Chinese crushers were rather active today in pricing soybeans as they have good margins. | |
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I'm hearing an additional 4.8 mmt soys sold to China
