Soybeans jump in Chicago after very strong sales

The soybean complex remained well oriented this Thursday evening in Chicago, despite fears related to the election of Donald Trump and the probable return of the Sino-American trade war. Before the change of mandate (next January), American sales of soybeans abroad remain particularly dynamic, with another 2 Mt recorded by the USDA last week, including 1.22 Mt destined for China. Weekly sales of soybean oil also jumped above market expectations, to 120 kt, the highest volume recorded in twelve years! Soybean oil thus chained a second consecutive session with a gain of more than 3%, to return to its peaks of last July. International sales of corn also exceeded market expectations, with a massive volume of 2.8 Mt announced by the USDA, including 1.4 Mt destined for Mexico. The US Department of Agriculture also reported the sale of 120 kt of corn to unknown destinations during the session. Wheat prices, however, fell back into negative territory, ...