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July 21 (Bloomberg) -- Soybean futures in Chicago declined on speculation that crushers in China, the world’s biggest importer, may slow overseas purchases as the government releases local stockpiles for sale into the domestic market.
China will auction 500,000 metric tons of soybeans on July 23, the state-backed China National Grain and Oils Information Center said yesterday. The sale is meant to ensure local supplies are adequate and to stabilize prices, the center said in a separate report July 17.
“That’s one of the main reasons” soybean prices fell, Jonathan Barratt, managi
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The sale is meant to ensure local supplies are adequate and to stabilize prices, the center said in a separate report July 17.
“The reserves are so big because China needs to keep the exchange rate stable for its exports. Therefore, they have to keep buying dollar assets.”
Originally posted by carolina1737
They are going to war soon in my opinion.