Panamax futures remain buoyant on China soybean purchases

Panamax futures remained buoyant this week as China continued to buy US Soybeans, despite increased political tensions over Hong Kong. The Q4 futures rallied 5.5% on Wednesday as the world’s second largest economy was revealed as purchasing 10 cargoes of soybeans this month from the U.S. alone, according to Bloomberg. China needs beans and remains …

Soy rises on China hopes but long term doubts remain

US domestic Soy prices have produced their highest close in nine weeks and their highest weekly percentage increase since March 27th.     The price increase is on the back of continued purchases of U.S. agricultural products by China. Committed to over 50 billion tonnes of purchases, China has come under fire for sourcing Soy …