Will the lower prices start to bring in buying from China? The 500-year rain event in Henan province in China (the top corn production state in China) destroyed a lot of corn, soybeans, and hogs. Last year, China began aggressively buying corn and soybeans in late July and early August and then kept on buying. This year they have cleaned Brazil out of soybeans, and were rumored to have bought 8 cargoes of soybeans from Argentina this week. Now watch for when they return as buyers in the US market.
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