# Soybeans extend gains after big Chinese purchase fuels trade hopes | Financial Post

> 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.

- Date: 2019-09-13 · published 2019-09-13T12:00:00.000Z
- Category: trade · region US · magnitude medium
- Page: https://feedsoft.ai/events/10850-soybeans-extend-gains-after-big-chinese-purchase-fuels-trade-hopes-financial
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

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.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2019-12-10 | [Soybeans extend gains as Chinese purchases stir hopes of U.S.-China deal \| Financial Post](https://feedsoft.ai/events/12382-soybeans-extend-gains-as-chinese-purchases-stir-hopes-of-u-s-china-deal.md) | +2.8% | +4.6% |
| SOY | 2019-08-14 | [Soybean prices rise on U.S.-China trade hopes \| Financial Post](https://feedsoft.ai/events/11472-soybean-prices-rise-on-u-s-china-trade-hopes-financial-post.md) | -1.9% | -2.1% |
| SOY | 2019-10-23 | [Soybeans pare gains after surge on China demand prospects \| Financial Post](https://feedsoft.ai/events/56613-soybeans-pare-gains-after-surge-on-china-demand-prospects-financial-post.md) | -1.7% | -2.4% |
| SOY | 2020-03-04 | [Soybeans rise on hopes for export demand, financial market gains \| Financial Post](https://feedsoft.ai/events/54186-soybeans-rise-on-hopes-for-export-demand-financial-market-gains-financial-post.md) | -2.2% | -0.8% |
| SOY | 2019-12-12 | [Corn, wheat, soy rally on U.S.-China trade hopes, export demand \| Financial Post](https://feedsoft.ai/events/6298-corn-wheat-soy-rally-on-u-s-china-trade-hopes-export-demand-financial-post.md) | +3.9% | +4.6% |
| CORN | 2019-12-12 | [Corn, wheat, soy rally on U.S.-China trade hopes, export demand \| Financial Post](https://feedsoft.ai/events/6298-corn-wheat-soy-rally-on-u-s-china-trade-hopes-export-demand-financial-post.md) | +5.5% | +5.7% |
| CORN | 2020-09-17 | [Soybeans at 27-month high on Chinese demand, corn dips \| Financial Post](https://feedsoft.ai/events/9343-soybeans-at-27-month-high-on-chinese-demand-corn-dips-financial-post.md) | -0.3% | +4.1% |
| CORN | 2020-10-14 | [Soybeans rise on Chinese buying, dry Brazil weather \| Financial Post](https://feedsoft.ai/events/11786-soybeans-rise-on-chinese-buying-dry-brazil-weather-financial-post.md) | +2.8% | +6.2% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/soybeans-extend-gains-after-big-chinese-purchase-fuels-trade-hopes-3

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.