US Soybeans Will Be Lifted ?

US Agriculture Minister Sonny Perdue said on Monday that it is possible for China to resume purchasing US soybeans around New Year's Day, because Brazil's soybean supply is now limited.

 

It is reported that since July, with the import of 25% tariff on US imports of soybeans, China's soybean buyers turned to South American Brazil to purchase, which once led to slow US soybean exports.

 

According to the latest data released by the US Department of Agriculture, the total US soybean export inspections as of November 29, 2018 totaled 13,253,543 tons, compared with 22,857,484 tons in the same period of the previous year. Among them, the total sales of soybeans to China (sold and unloaded) was 585,000 tons, a decrease of 97.0% from 19.364 million tons in the same period last year.

 

Soybean is the raw material of epoxidized soybean oil. The price fluctuation of soybean directly affects the price of ESBO price. It is expected that the soybean price in 2019 will stabilize.


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