Thursday May 14, 2020

• China made some more bean purchases yesterday 
• Weekly U.S. export sales came in within expectations for all three commodities 
• China’s recent purchases have been a needed outlet for American ag products and a good PR strategy for Chinese importers
  • Not only is it making China look good for living up to the phase one deal but it is also helping show good will as the states wants to place the blame of the COVID outbreak 
  • More strategically however on Chinas behalf they are buying the American beans as they are the cheapest on the market and they are building up their state reserves in fears of potential port shut downs due to the virus