In this mornings export sales report.. Soybean Sales were 2.391 mmt's including 1.466 to China.. this is for the week of 12/20/18.

Also some analyst think there may be a 10 mmt descrepancy in Argentine Soybean stocks after last year's shorter crop on the US WASDE for Agentina...

???

The numbers do not balance.. if South America covered sales to China while spurning the US.. they had to come from somewhere.. South America has to be running on fumes now.. 

Also reports of not only Lower Brazilian Production but also reports that Argentina may not hit it's 55.5 mmt forecast..

It's going to be interesting how the Feburary updates weave all of this together..

Where did the soybeans that China imported this fall come from?