China Raise Its Demands On Grains While Argentina Suffers

12/08/2022

The asian country rises on their need to get soy beans and grains.

Chicago soybean futures gained more ground on Wednesday, buoyed by strong demand as China eases COVID-19 curbs and dry weather in Argentina supports the market and beneffits somehow chinese strategy.

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Wheat prices are facing headwinds from ample supplies with the market trading near last session's 13-month low.

Las importaciones de soja de China seguirán aumentando

The most active soybean contract on the Chicago Board of Trade (CBOT) rose to $14.58 a quarter a bushel, as of 0403 GMT. Wheat was down to $7.27 a bushel, after dropping to its lowest since Oct. 2021 on Tuesday at $7.23 half a bushel and corn lost until settleing to $6.36 a quarter a bushel.

The U.S. Department of Agriculture announced that U.S. exporters sold 264,000 tonnes of soybeans for delivery China, as well as 240,000 tonnes to unknown destinations, both during the 2022/2023 marketing year, which means a great job from the asian country.

China exporta más e importa menos

China imported 7.35 million tonnes of soybeans in November, down 14% from a year earlier, customs data showed on Wednesday, confounding expectations for a significant rise, after slow clearing of cargoes at customs. Chinese demand for soybeans and other grains should raise as Covid-19 eass in the country and their demanda increases.