Market Matters
Katie Micik DTN Markets Editor
Fri Sep 25, 2015 03:53 PM CDT

Chinese buyers agreed to purchase 484 million bushels of soybeans for a little more than $5 billion at a contract signing ceremony in Iowa on Thursday.

That's a lot of beans -- about 17% of what USDA thinks China will import in the 2015-16 marketing year.

"There is a lot about this sale that I don't understand," one reader wrote to me. "Why such a large sale now? If my math is correct, that comes out to $10.95 per bushel. Cash beans in my area are $8.40ish. I could just be naive about international sales but it seems weird to ...

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