Soybeans were higher on commercial and technical buying, with May up on the week, but November down modestly. Unknown destinations bought 110,000 tons of 2019/20 U.S. beans Friday morning, which might turn out to be China when it’s time for delivery. China has yet to really step up phase one purchases and might not until Argentina and Brazil have nearly exhausted supplies, unless U.S. prices become significantly more attractive. Even that would take some time, given production expectations for South America and the recent weaknesses in Argentina’s and Brazil’s currencies against the dollar.
Copyright © 2018 Indiana Farm Bureau®, Inc. is a member of the American Farm Bureau Federation®, a national organization of farmers and ranchers including Farm Bureau® organizations in 49 other states and Puerto Rico, and is responsible for Farm Bureau membership and programs within the State of Indiana.