Slack Chinese demand today, a small US soy crop in six months, and a long term price forecast. Whereas the last few weeks has seen corn rise 5% and firmly above US$7/bushel, soy' performance has been underwhelming. This is partly due to Latin America's infrastructure woes catching up with it: China cancelled 2 million tonnes of Brazilian imports after only 2 of the 12 cargoes scheduled for January and February arrival times actually arrived. Normally, that would mean a win for US soy producers but in this case, it may not be.
