Grain markets were roaring with continuing demand from China and lacking supply from South America.
U.S. soybean and corn shipments combined were at a record in the 4th quarter and China bought 34.4M MT of American soybeans for shipment in the current season (fastest pace since 1991).
Soybean usage from China in the crop year of 2018/19 was 102 MMT with a projection of 117 MMT for the 2020/21 crop year.
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Oliver@BlueLineFutures.com and 312-837-3938
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