Private exporters reported to USDA cancellation of export sales of 136,000 tonnes of old crop soybeans to China Friday. At the same time, announcing fresh sales of 130,000 tonnes of soybeans to China and another 130,000 tonnes of soybeans sold to unknown destinations. Zaner Group Ag Hedge Lead Ted Seifried says it’s a roll move by China. “It was done in a strange way. We’d heard in the last few days China was looking to roll some of their contracts from old crop to new crop,” says Seifried. “They’re pushing things back a little bit, which makes sense, because of all of the African swine fever challenges.” Seifried says the trade is not focusing on exports right now. “We’re really more worried about production. It will continue to be the focus through the acreage report.”
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