Loading…
China bought about 3 million metric tons of US soybeans in recent days as importers shifted from Brazil, with confirmed sales to China down 35% year on year as of late October. Analysts said the buying may be a one-off goodwill gesture ahead of the APEC summit, given Brazil's record harvest and a strong dollar.
Large Chinese purchases lift near-term US soybean demand and export prices, but analysts see the buying as temporary. Brazil's low-cost supply and the strong dollar limit the lasting price support.
ukragroconsult.comNov 16, 2023After 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.
