China's share of Brazilian soybean exports fell to its lowest level in three years, even though volumes to China remain near record levels. Brazilian exporters are expanding sales to the EU, Middle East, Africa and other Asian buyers, while China has increased purchases of US soybeans.
A shift in destinations increases competition between Brazil and the US and is expected to limit near-term soybean price gains despite recent futures strength.
After 804 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.