Soybeans charge higher after latest sale to China: Podcast

Farm Futures survey raises corn production, trims soy vs. USDA.

Soybeans posted double-digit gains near midday Friday after USDA said China bought  18.3 million bushels of new-crop soybeans. USDA has announced a daily soybean sale every day this week with China taking most of them.

Farm Futures released it farmer survey on Friday that forecast a U.S. corn crop of 14.59 billion bushels at 168.6 bpa; and a soybean crop of 3.865 billion at 46.65 bpa. USDA currently has corn at 14.54 billion bushels and soybeans at 3.88 billion.