Cuba Buys Soybean Oil from U.S.

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USDA’s export sales data showed Cuba recently bought soybean oil from the United States for the first time in five years. Pro Farmer’s First Thing Today says the export data showed the U.S. sold 7,600 metric tons to Cuba. This may be an indication of some concern over the quality of the soybean crop in Argentina as well as tightening supplies in Brazil. This could be pushing some buyers in the direction of U.S. soybeans and soy products. There are some in the markets who think this may signal a return of Cuba to buying American agricultural products because of lower prices due to a closer proximity.