Another purchase of U.S. soybeans
The USDA is reporting a private export sale of more than 250,000 tons of soybeans to an unknown destination for delivery in the current marketing year, which began Friday.
This is the fifth consecutive business day with a purchase. The recent uptick in soybean sales can be tied to a combination of value buying and end users trying to lock in supplies ahead of the U.S. harvest and widespread South American planting.
The USDA’s next set of supply and demand estimates is out on Tuesday the 12th.