Soybeans Surge on China Demand: Hold Steady as Brazil Harvest Looms with Vanessa Clark

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Soybeans Surge on China Demand: Hold Steady as Brazil Harvest Looms with Vanessa Clark

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This is your Daily Soybeans Price Tracker with Vanessa Clark podcast.

Hey friends, welcome to another episode of Daily Soybeans Price Tracker with Vanessa Clark. Im your host Vanessa, and today were diving into the latest on soybean prices, export sales, and what it all means for you.

March soybeans closed strong at 10 dollars and 57 and three quarters cents, up four and three quarters cents on the day according to GX94 Radio closing prices. That follows a nice rally yesterday, with early morning trading from AgMarket showing soybeans up two to three cents at the open. Soybeans rallied on huge export sales of 75.8 million bushels, way above expectations, led by big buys from China as reported by DeLong Company and GrainsPrices. The NOPA crush report also came in solid at 225 million bushels for December, up nearly nine percent from last year, boosting demand for soybean oil especially with biofuel policy buzz.

But keep an eye on Brazil, where harvest is ramping up and could cap any big rallies per AgMarket analysis. Support for March is at 10 dollars 38 cents, with resistance near 10 dollars 58 cents.

If youre a farmer or trader, heres your takeaway: strong exports and crush mean hold steady if youre not hedged, but watch those South American supplies closely for selling opportunities. Patience pays off right now.

Thanks for tuning in, buddies. Subscribe and catch you next time for more soybean updates.

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