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U.S. soybean exports to China surged to a seasonal record, as China bought American beans to offset Brazilian supply tightening. Argentine farmers are shifting acreage from corn to soybeans to cut costs.
Trade talks between the U.S. and China were set to resume.
Stronger Chinese demand for U.S. beans supports soybean prices, while Argentina's shift toward soy could weigh on its corn crop and future corn export supply. The overall effect on feed prices is modest.
farmpolicynews.illinois.eduKeith GoodSep 9, 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 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% 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.
