Soybeans The world soybean markets are still dead, including Brazil’s. Chinse demand is covered for August and most of September, leaving potential demand for October-January as the only buying possibility. Sellers, however, are not comfortable offering those positions. Trading houses are having a difficult time presently because few traders want to be long or short, especially on the Brazilian crop. Despite the possibly huge demand from China, buyers are not willing to pay replacement prices. Moreover, since Chinese crush margins are poor, they are even more reluctant to buy as they would be paying high basis with no profit. Consequently, any near-term demand is likely to be for spot positions, but the market is still well covered...

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