China buying U.S. soybeans highlights grain markets, but not for long — This week in the grain markets

by

Opinion

On Wednesday, it was announced China would make its first major purchases of U.S. soybeans since the “trade war truce” made between the two countries at the end of the G20 Summit in Argentina. The purchase of over 1.5 MMT of U.S. beans, valued at more than $500 million USD supported soybean prices on Wednesday, as it was the largest one-day sale of U.S. soybeans in more than four years and the ninth-largest in the past decade. This obviously pumped up and helped the entire grain markets rally for the day. However, the bullish love was short-lived as the market…

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