Tidbits, Fall Basis, Chinese Auctions, Ukrainian & EU Crops 8/1/26
- Wright team
- 36 minutes ago
- 4 min read
Tidbits
Flash Sales: Yesterday, the USDA announced the sale of 252,000 mts of new crop soybeans to unknown.
China's Soybean Auctions:
China's Sinograin auctioned 504,000 metric tons (18.5 million bushels) of imported soybeans on Friday. They sold roughly half of the offered volume in its largest reserve auction since January. Sold beans moved into commercial channels, and Sinograin has scheduled another auction of 501,158 metric tons for Wednesday, involving soybeans produced between 2022 and 2025.
This could be China clearing storage space ahead of its planned purchases of 25 mil mts of U.S. soybeans over the next marketing year. The process should shift Chinese demand away from Brazil during the fourth quarter of 2026 and into early 2027, but Brazil’s price advantage and ability to redirect exports mean the effect will be a reshuffling of global trade flows rather than a permanent loss of Brazilian soybean demand.
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