Large sales of soybeans to Chinese buyers are giving hope for a recovery this fall and into the new year, Successful Farming reports.
On Monday exporters reported the sale of 390,000 tonnes of soybeans for delivery to China. That brings China’s total purchased to 1.11 million tonnes of soy in four days, worth $354 million.
Traders believe China is the destination of four other recent soybean sales listed by the USDA as going to unknown destinations. There is optimism that reports in the marketing year will ride to levels common before the Sino-U.S. trade war, says Todd Hubbs of the University of Illionis.