Oilseeds - Oils

Soybeans: price expectations of USD 9 per bushel

February 18, 2020 2:11 PM, Der AUDITOR
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CHICAGO. US soybeans rose slightly in the after the trade expected China to buy more soybeans this week after the Phase 1 deal came into effect. It remains to be seen whether this calculation works out. South America's soybean forecasts continue to rise.

In the USA, soybean prices in Chicago turned positive by 3 cents to USD 8.96 per bushel. Soybean meal also made some gains in the USA and brokers who spent time at the office despite President's Day hoped to start the new week with a level of USD 9 per bushel. This is because in the USA, trade positioned itself with higher export expectations for soybeans to China. It is very uncertain whether this calculation will already work out in the first week after the Phase 1 deal comes into effect, especially as China had bought considerable quantities of soybeans in Brazil in January.

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