Cash premiums for soybeans from Brazil and the US on CFR China basis had a roller coaster session in the past two weeks due to the interplay of factors including strong Chinese state-backed purchases and mounting fears of weaker Brazilian soybean output last week as well as fresh rumors of cargo washout this week.
Soybean premiums lost its bullish momentum in the second half of the week as rumors of Chinese cargo dumping escalated.
After having surged 30-40 cents/bu higher last week, premiums fo...