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Soybeans have been surging on Chinese demand and purchases could continue

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A worker displaying soybeans imported from Ukraine at the port in Nantong, in China’s eastern Jiangsu province. – Imports of soybeans from the US, once China’s biggest supplier, have dropped massively since a trade war between the US and China began in 2018.

STR | AFP | Getty Images

Global soybean demand has been robust recently, with new American crop sales at record levels, said Jim Sutter, CEO of the U.S. Soybean Export Council.

On Tuesday, prices of U.S. soybean futures rose to their highest levels since 2018 after the U.S. Department of Agriculture said that Chinese buyers purchased 664,000 tonnes, the largest daily total since July 22.

“It looks like the outlook demand for the next…



Source cnbc.com

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