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another china sale
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Posted 1/7/2019 18:33 (#7227681 - in reply to #7227378)
Subject: RE: If the 0.9 MMT is correct.

Probably the Chinese are watching the weather in Brazil & hedging their bets a little. Buying a few beans to replenish their stocks but not so many as to get the market excited (and keep trump happy). If the 0.9 MMT is correct then they have purchased 3.4 MMT over a three week period or 125 M bushel.
Previously US bean sales usually declined abruptly in the third week of Feb as quantities of Brazilian beans became available. If that's the case, we've got about four or five more weeks of 1 MMT sales, just in time for the trade negotiations to get serious again.
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