Uncertainty Lingers

Soybean basis levels received a boost from news that China intends to buy up to 12 million metric tons of U.S. soybeans. DTN Basis Analyst Mary Kennedy reminds us that until the soybeans are shipped and en route to China, nothing is guaranteed. “China has a knack of buying from us and then six months later, when the shipment time has come or even before that, they cancel it,” said Kennedy. “Bottom line is there’s nothing that’s certain with China, in my opinion.”