Futures Close Report 25th September

Argentina strike action leading to disruption in grain ports as workers take part in national strike protesting against the economic policy’s of President Macri.

Chinese soy buyers continue to procure supply’s from Brazil – some sources now expect Brazil to purchase US Beans to replace their stock balance.  Brazil’s soybean export season typically ends in August-September after which cargoes from the United States take over the market until March.  The landed cost of U.S. beans in China is currently similar to Brazilian soybeans even with the 25-percent tariff, but Chinese crushers are reluctant to take U.S. supply as they fear authorities may not approve cargoes.