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ADM, Cargill may face end of bean bounty on hoarding, harvest prospects

Ags - Grains/Beans 282 Brazil 378 China 2899 Consumer Staples 735 Trade Deals 977 U.S. 5200

Poor harvest conditions and pandemic-related disruptions for labor are set to have a significant impact on soybean supply chains and geopolitics in the coming months. USDA data indicates that just 60% of the emerging U.S. soybean crop is of good-to-excellent quality. That may cast doubt on deliveries under the phase 1 trade deal with China. Committed purchases by China for the farm year starting September have already reached 3.05 million tons, similar to last year’s figure at the same time and 2.8x 2017’s level. At the same time Brazilian farmers are starting to hoard supplies after an ...

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