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Farm Futures reports that soybean buyers at the US Gulf need supplies for incoming vessels, supported by December sales mainly to China. January Gulf soybean bids were about 47 over CBOT January, and farmer selling of old-crop corn remained slow.
South American soybeans are expected to arrive by late January or February, which should ease Gulf demand.
Strong near-term Gulf demand supports soybean and corn basis, but expected South American supply in February points to a weaker spread later in the crop year.
farmprogress.comBob Burgdorfer Senior Editor, Farm FuturesJan 3, 2017Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
