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US soybean producers signed deals worth billions of dollars with a Chinese delegation before the San Francisco summit, the first bulk signing since 2017. Chinese buyers purchased over 3 million tonnes of soybeans in a single day.
Agricultural trade between the two countries is picking up.
Large Chinese soybean purchases and bulk signings support US soybean export prices and reduce trade-war risk. Renewed buying would tighten nearby US soybean supplies.
chinastrategy.orgMedia LibraryFeb 12, 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.
