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USDA announces another sale of soybeans

The USDA’s Foreign Agricultural Service is reporting another sale of U.S. soybeans.  This marks the ninth day, out of the last ten business days with a sale. 

Unknown destinations purchased more than 130,000 tons of U.S. beans, making the running total for delivery this marketing year over 1.8 million tons.

The lower U.S. prices and expectations for a smaller crop in Brazil due to hot, dry conditions in some areas and excessively wet weather in other areas are likely contributing to this recent uptick in purchases.

The USDA’s updated supply and demand estimates are out January 12th.

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