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U.S. soybean futures hit a six-week high after China made its first large purchase of U.S. beans in months. China also agreed to exempt some farm products, including soybeans and pork, from additional tariffs.
USDA confirmed Chinese importers booked 204,000 tonnes for 2019/20 shipment.
Renewed Chinese buying eases the export stall that had swollen U.S. soybean stocks, supporting soybean and soymeal prices. Corn also firmed on short covering as trade-thaw hopes grew.
financialpost.comReutersSep 13, 2019After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.
After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% over 20.
After 206 past neutral trade events, Wheat (SRW) moved a median +0.1% over 5 sessions (53% higher; middle half -1.3% to +1.6%), and +0.5% 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.
