China may be purchasing U.S. soybeans under the radar. Brock and Associates President Richard Brock explains it could be part of the strategy. “I think they’ll start releasing the information on exports soon,” says Brock. “The other thing we look at is basis, and it’s staying firm for corn and soybeans. This is an indication somebody is buying beans.” Brock believes China will make more soybean purchases from the U.S. in 2019, giving the commodity markets a slight boost. “We need to see a fairly significant drop in soybean acres this coming year, as well as an increase in both crush and exports. We could be looking at a long road before we get above $10.50 on soybeans. A person just has to be patient right now.”
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