In the report, the USDA raised its total estimate of U.S. exports of soybeans by 15 million bushels to 990 million bushels, reflecting the potential increase in exports to China, Reuters reported.
Prices are good and general demand in China is good.
There is an economic boom in China, he added, which has led to an increase in meat production and hence feed, including soybean meal. U.S. soybean groups optimistic The USDA does not mention the ongoing diplomatic dispute between the United States and China over the April 1 collision between a U.S. surveillance plane and a Chinese jet fighter, according to Reuters. Davis said his group has had a very strong working relationship with the Chinese, one that he hopes to maintain.