date:Nov 23, 2012
s also linked to a more favorable outlook for South American weather the next 2 weeks. Strong demand by China continues to support the market and the USDA reported this morning that US exporters sold 20,000 tonnes of soybean oil to China and 56,000 tonnes to an unknown destination.
The soybean oil sales pace has surged in the last 2 weeks which has triggered large amounts of speculative short covering in the market. It was also reported that US exporters sold 120,000 tonnes of US soybeans to C