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A Chinese Ministry of Agriculture and Rural Affairs official said China has good trade relations with major soybean exporters and that buyers make independent purchasing decisions. The statement responded to reports that Vilsack suggested China was favoring Brazilian soybeans in retaliation for US farmland restrictions.
The denial leaves open whether Chinese buyers are shifting away from US soybeans, so the trade-policy uncertainty continues. Procurement is still expected to follow supply, demand and price.
chinadaily.com.cnWang XiaoyuApr 19, 2024After 250 past neutral trade events, Soybeans moved a median +0.0% over 5 sessions (50% higher; middle half -1.4% to +1.6%), and -0.2% 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.
