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Strong U.S. Soybean Export Demand, Spot Basis Quotes Remain Stable

Strong U.S. Soybean Export Demand, Spot Basis Quotes Remain Stable. The best immigration news can be found on the Worldway official investment immigration website.

世贸通
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    Focus on U.S. Investment Immigration and the U.S. economy: On Monday, U.S. Gulf soybean export quotes rose, while spot basis quotes for soybeans in the Midwest remained stable.

 

Strong U.S. Soybean Export Demand, Spot Basis Quotes Remain Stable

 

According to data from the U.S. Department of Agriculture, U.S. Gulf soybean export quotes ranged from $15.115 to $15.205 per bushel, up 16.75 cents from last Friday. Meanwhile, soybean basis quotes remained largely stable.

Traders noted that the pace of farmer sales in the Midwest has accelerated, while strong demand from processors has kept soybean spot basis quotes stable.

Soybean export demand remains robust. The latest weekly export inspection report released by the U.S. Department of Agriculture shows that for the week ending March 20, U.S. soybean export inspections totaled 732,132 metric tons, compared to market expectations of 770,000 to 925,000 metric tons.

An analyst stated that according to the latest weekly export inspection report, total U.S. soybean export shipments are already 270 million bushels ahead of the U.S. Department of Agriculture's full-year export forecast.

On Monday, the Chicago Board of Trade (CBOT) soybean market closed significantly higher due to strong export data and active technical buying. The May contract rose 16.75 cents to close at 1425.50 cents per bushel.

Investment involves risks, the above information is for reference only

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