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China bought 132,000 metric tons of U.S. soybeans for the 2024-25 season, the first such purchase of the marketing year. That timing is about seven months later than usual, since China typically books U.S. cargoes around December.
The purchase signals some Chinese demand for new-crop U.S. soybeans, but the volume is small and the late start leaves uncertainty over how much the country will buy.
news.bloomberglaw.comTarso VelosoJul 10, 2024After 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.
