
A Reuters analysis says US soybean shipments to China were valued at a record $17.9 billion in 2022, but volumes were 12% below 2020 levels. High prices masked a decline in Chinese bookings.
The piece argues the US ag sector should be wary after the last trade deal with China fell short.
Falling Chinese volumes despite high prices signal weaker underlying demand for US soybeans, which is bearish for soybean prices over time.
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.