Soybean Export Sales Just Hit a Level Not Seen Since 2023

Soybean export sales hit their strongest week since November 2023 as China stepped up purchases after grain prices broke sharply lower. Mike Castle, StoneX Senior Commodities Economist, explains how the demand side of the market is responding to the price break that followed two bearish USDA reports. China dominated a seven-day run of daily flash sales, with Spain the first non-China destination in some time. Non-China soybean sales remain the slowest in three years, limiting the case for a higher USDA export forecast. Corn export sales reached a six-week high but still trail last year, while global biofuel demand supports soybean and corn usage. 0:00 Grain Bloodbath Tests Buyers 1:20 China Soybean Flash Sale Spree 2:42 Soybean Sales Best Since 2023 4:34 USDA Soybean Target Stays Put 6:38 Corn Export Sales Still Trail 8:20 Biofuels Fuel Grain Demand Discover Actionable Markets Insights with StoneX Market Intelligence: https://shop.stonex.com/collections/all?utm_source=youtube&utm_medium=social&utm_campaign=sxtv_guest_mike_castle&utm_content=share Like and subscribe for more financial market insights. #Soybeans #StoneX #MikeCastle #Corn --------- Like this video? Subscribe and turn on notifications so you don't miss any videos from StoneX: https://www.youtube.com/@stonex_official Visit https://www.stonex.com/en/insights/thought-leadership/?utm_source=youtube&utm_medium=social for insights, perspectives and thought leadership from StoneX's global network of experts. Visit our website: https://www.stonex.com?utm_source=youtube&utm_medium=social