Monday's market news started off with a bang, as USDA confirmed more reports of China buying U.S. soybeans.
According to AgWeb, USDA reported private exporters bought 390,000 metric tons of soybeans for delivery in the 2020/2021 marketing year.
As China ramps up its purchases from the U.S., China may be buying out of necessity, instead of buying to live up to its Phase One trade promises.
Arlan Suderman of INTL FCStone told AgWeb the China buying trends may mean they are hoarding products, to protect from any future slowdowns in shipments and movement of products.
