Soybean exports remain on pace, with healthy Chinese purchases totaling 320,038 MT during the week ending Jun. 11, about 60 percent of the purchases made during the week. As of now, the current USDA projection of 1.650 billion bushels looks attainable with the current pace.
On the trade front, the latest meeting between China and the U.S. was held in Hawaii where China made clear it intends to meet the Phase One trade deal parameters.
U.S. soybean Gulf pricing is now a good deal lower than Brazil soybeans, which is timely as China is looming with more purchases.