# Futures File: China bids for beans

> Soybean futures reached a six-week high of $9.85 per bushel on September 22 on improved demand, especially from China. Prices remain well below midsummer highs above $10.40, and the Federal Reserve announced it would begin unwinding its balance sheet.

- Date: 2017-09-22 · published 2017-09-22T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/68994-futures-file-china-bids-for-beans
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Stronger China buying and South American weather concerns support soybean prices, while Fed balance sheet reduction is a macro factor that could firm the dollar and weigh on exports.

## Read by commodity

- DXY: neutral
- SOY: bullish ▲

## Sources

- desmoinesregister.com: https://www.desmoinesregister.com/story/money/business/2017/09/22/futures-file-china-bids-soybeans/694611001/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.