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Brazilian soybean prices in local currency reached their highest level in almost two months after the United States escalated its trade war with China. China, the world's largest soy importer, responded by halting purchases of US soybeans.
Chinese demand shifting toward Brazilian beans lifts Brazilian soybean premiums and local prices, supporting export demand for Brazilian soy.
reuters.comRoberto SamoraAug 7, 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.
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.
