CBOT soybeans rebound from near four-year lows as export demand recovers

Gold Ten Futures, July 19, according to foreign media reports, on Thursday, CBOT soybean futures closed higher, because there are signs of export demand recovery, bargain buying activity. Earlier, the US Department of Agriculture reported that private exporters exported 510,000 tons of US soybeans to unknown destinations for delivery in 2024/25. This is the largest single-day sale since November, boosting the US soybean future market sentiment. The weekly soybean export sales data released by the US Department of Agriculture is in line with expectations. The latest report released by the International Grains Council (IGC) shows that global soybean production in 2024/25 is expected to reach a record 415 million tons, unchanged from last month's forecast and up 23 million tons from the previous year.