China is continuing to ramp up its purchases of U.S. soybeans.
The action comes despite the uncertainties regarding the nation’s ability to fulfill its Phase One Trade Agreement commitments with the U.S.
Last Thursday made it eight consecutive days that the USDA announced additional export sales of soybeans to China and other locations.
The USDA says private exporters filed reports of agricultural export sales totaling 132- Thousand metric tons of soybeans for delivery during the 2020-2021 marketing year, which will begin on September 1.
An analyst with the U.S. Soybean Export Council says U.S. soybeans coming from the Pacific Northwest are $6 cheaper than Brazil’s, giving American soybeans a competitive edge.
USDA also reported export sales of 211-Thousand metric tons of soybeans for delivery to unknown destinations during the 2020-2021 marketing year. Those are likely headed to somewhere in the European Union.