USDA confirms new soybean sales to China, but futures decline
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E-mail Xinhua, March 12, 2019
The U.S. Department of Agriculture (USDA) on Monday confirmed a large amount of soybean sales to China, but the export news failed to boost the oil seed futures during the morning session in Chicago.
Private exporters reported to the USDA export sales of 926,000 metric tons of soybeans for delivery to China during the 2018/19 marketing year, which began on Sept. 1.
On Friday, another booking of 664,000 metric tons of soybeans was reported, also for delivery to China, the world's top soybean buyer.
However, the bullish developments just limited the fall of Chicago Board of Trade (CBOT) soybean futures, said analysts, as market participants still await the final outcome of the U.S.-China trade talks.
As of 1554 GMT, the most active soybean contract for May delivery was down 4.25 U.S. cents to 8.915 dollars per bushel. May corn was down 0.5 cent to 3.6375 dollars per bushel. May wheat was down 4.5 cents to 4.35 dollars per bushel.
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