Soybeans China’s soybean demand remains at a standstill for all positions. Last week’s market activity (or lack thereof) was the same as it has been for the past few months with Chinese soybean crushers having no margin to buy, sellers looking for demand, and basis slowly falling. Even the sharp sell-off in CBOT soybean futures after Friday’s WASDE did not substantially change basis. Although old crop basis rose slightly (10 cents), demand remained very quiet in wait of offers coming down again. Chinese crush margins improved marginally to $20/MT, but buyers are still not moving. Consequently, sellers are becoming nervous, especially if they must sell nearby positions while having increasingly less time to find demand...

TAGS – Soy & Oilseeds, Wheat, Feed Grains, South America, China, North America