Soyabean Futures : over 15.00. SM also jumped over 431. Talk of lower South America supplies is helping SM make new highs.
Some in the trade are estimating that final South America soybean crop could be down 21 mmt or 770 mil bu from USDA December estimate.
This could increase demand for US soybeans. One analyst lowered his estimate of US 2021/22 soybean carryout to 120.
USDA announced another 132 mt US soybeans were sold to China for 2022/23. SX is making new highs on talk US 2022/23 US balance sheet may be tighter now than 2021/22.
