According to analysts and an export trader, Chinese importers bought a small number of soybean cargoes on the 1st of December for December and January shipments from the US Gulf Coast and Brazilian ports.
Purchases of around three to four cargoes – about 240,000 tons – took place after prices dropped sharply on Tuesday, with Chicago soybean futures falling nearly 2%.
Importers from China, the world’s biggest soy buyer, have registered more Brazilian soy shipments than usual this year during the traditional US export season, amid rising US prices and a stronger dollar.
Source: Money Times
