Brazil soybean supplies remain tight as planters are rolling. According to Bower Trading market analyst Ben Kasch, demand is the driver. “We saw really strong export sales last week, especially for soybeans. This market seems to have a lot of demand support. Going forward, weather is key for Brazil. There are also unknowns looming, but this market is performing quite well.” The cargo ship loading soybeans to Brazil last week must be from an earlier sale to unknown destinations. “It’s very interesting to see Brazil buying soybeans. It shows their export program was pretty aggressive.”
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