China increases U.S. soybean purchases, boosting the crop’s price outlook

China has been more active lately buying U.S. soybeans, and it has helped them hold as the number one export market for producers, which is boosting their price outlook.

Iowa State University economist Chad Hart says that momentum does not appear to be slowing, especially as harvest season comes into focus. Last week’s WASDE report showed soy exports climbing around a million bushels this marketing year.

Hart tells Brownfield Ag News that it is not as good as years past but it indicates the situation is moving in the right direction. Whatever the case, U.S. soybean growers are relying less on China and looking toward areas like renewable diesel.

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