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The USDA confirmed private sales of 297,000 metric tons of U.S. soybeans to China. It was the first soybean sales announcement under its daily reporting rules since Dec.
19 and the first to China since Dec. 15.
A large confirmed purchase by the world's top soybean buyer supports U.S. soybean and soybean meal prices by tightening export availability.
reuters.comJan 19, 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.
After 342 past bullish trade events, Soybean Meal moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% 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.
