New Crop Soybeans Lead Grains

At the time of this post November soybeans are the only grain trading in the black, up 8 1/4 in the early going. We saw some export sales reported to China this morning by the Foreign Ag Service, and that looks to be supporting the soy complex this morning as soybeans scramble to pick up planted acreage this spring. Also supportive for the soybean complex was Oil World raising their expectations for US exports to China during June, July, and August. Following production issues in South America, Oil World now expects the Chinese to import 2.3 Million tonnes of US Soybeans during this time period -- compared to just 0.6 million tonnes during June, July, and August of 2011. Tune in for the full breakdown of these stories plus yesterday's Crop Progress Report!

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