China’s apparent lack of interest in the upcoming U.S. soybean harvest has put bullish traders on edge and U.S. export prospects in question, reports Reuters.
The world’s top soybean buyer has been relatively inactive in the U.S. market for the last several months, a stark contrast with a year ago when China’s buying was rampant.
Last year was an anomaly, though. New-crop U.S. soybean sales in June and July 2020 set records and were more than double average volumes for those months. China and unknown destinations accounted for a particularly high share.
