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China, the world’s biggest buyer of soybeans, has yet to book any U.S. soybean cargoes from its autumn harvest.
Sam Hudson with Corn Belt Marketing says grains saw an early bounce on Thursday with news overnight that Argentina had reinstates it’s export tax on grains, which is at 26% for soybeans.
Hear what’s working for four farmer-buyers with experience finding used machinery in good condition for their operations.
China significantly ramped up its buying of soybeans from Argentina this week.
With New World screwworm within 70 miles of the U.S.-Mexico border, the livestock industry is on high alert. USDA continues to fight the northward spread of the parasite while debate continues on the border closure.
Mark Schultz, Northstar Commodity, says soybeans ended lower in tandem with lower soybean meal as China reportedly bought another 10 plus cargoes of lower priced Argentine soybeans after they dropped their export tax.