Market News : Soybean prices rose back to the $15 per bushel mark at the end of January, recovering from a two-week low of $14.78 hit on Wednesday and moving closer to a seven-month peak of $15.5.
Strong demand expectations continued to provide some support, with China set to boost purchases in the coming months as the economy of the world’s largest soybean importer reopened after three years of pandemic isolation.
Meanwhile, concerns about supply disruptions eased amid an improvement in Argentina rains and the early harvest progressing in Brazil.
Elsewhere, data from the US Department of Agriculture confirmed private sales of 130,000 tonnes of soybeans for delivery to unknown destinations in the 2022/23 marketing year.
At the same time, the weekly export inspection data showed 1.806 million tonnes of soybeans were inspected for export in the last week, below 2.190 million tonnes in the week before
