Soybean export sales hit marketing year low

Soybean export sales hit marketing year low

The USDA says soybean export sales during the week ending April 9th were a marketing year low. Egypt was leading buyer with no new sales to China as Beijing continues to rely on Brazil, with their prices at a significant discount to U.S. prices because of the dive in their currency and the relative strength of the dollar. After delays related to weather and COVID-19, cargoes of beans from Brazil are reportedly arriving at crush facilities southern China at a slow but steady pace.

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