
Several Chinese feed makers jointly signed a deal to buy 30,000 metric tons of Argentine soymeal for July shipment as a test purchase. The buyers have been favoring Brazilian soybeans and avoiding US exports due to high tariffs.
Shifting Chinese soymeal purchases toward Argentina diverts demand from US supply, a modestly bearish factor for soybean meal prices, though the volume is small.
After 384 past bearish trade events, Soybean Meal moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and -0.5% over 20.
After 803 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.