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Futures Close Report: 7th December 2017

China, the world’s largest soy buyer, imported 8.68 million tonnes of soybeans in November, up 48.1%from 5.86 million tonnes in October according to latest figures released by the Chinese customs authority.  This takes year to date imports to 85.9 million tonnes up 14.8% year on year.

U.S. soybean exporters have shipped at a slower pace this crop year than in previous years, casting doubt on whether the industry will reach government forecasts for export, markets await confirmation from next weeks USDA report.

UK Domestic trade remains all about December execution as logistics supply is tight.  Farmers remain seemingly uninterested in forward sales so pace of origination is slow.