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U.S. Soy Cancellations Rise with Brazilian Crop Estimates

2013-01-07 19:17:00| Corn & Soybean Digest

Further cancellations of U.S. soybean orders by China have added to the downward pressure on soybean prices as buyers grow more confident in a bumper South American crop. On Jan. 3, USDA said that private exporters had reported the cancellation of export sales of 315,000 metric tons of soybeans for delivery to China during 2012-13. The cancellation follows Chinese buyers cancellation of a total of 840,000 tons of previous U.S. soybean purchases for 2012-2013 during the week before Christmas. Another 120,000 tons of soybeans sold to an unknown destination that was most likely China were also cancelled on Dec. 18. News from Brock Associates read more

Tags: rise estimates soy brazilian

 

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