Futures Close Report 18th October

Brazil – soybean planting progression has caught up with average pace, having had a slow start – 22% of expected Soybean area now reported as planted to date. That’s up from 9% last week.

China has been reported as buying Brazil origin soybeans over the last week – despite assurances that they will make US purchases as a sweetener in the ongoing trade talks with the US. It remains a fact that Brazil origins are still cheaper than US, and it would seem that Chinese buyers are price driven above policy.