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soy-oilseeds wheat feed-grains

Mercosur Regional Analysis

Soybeans Market Overview The soybean market remained bearish last week with Chinese buyers quiet and Brazilian sellers trying to sell their old crop long positions. Adding to this, last Thursday President Trump tweeted that he had been talking with China’s President Xi Jiping about ending the trade war. CME futures reacted immediately and rose 30 cents in one day. This was not good for Brazilian exporters, who were long basis and looking for Chinese demand. At the same time, Dalian futures dropped 5 percent and reduced crush margins by $30/MT, taking them to breakeven levels. This is also not good for Brazilian exporters nor Chinese crushers since the margins’ collapse eliminated any possibility of the latter purchasing soybea...

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