Loading…
Bloomberg reported that Chinese importers booked at least 20 cargoes of Brazilian and Argentine soybeans for delivery in October through December. Low-priced Brazilian supply has left US exporters a smaller window to sell to China, and low Mississippi River water levels are restricting barge loadings.
Heavy South American bookings shrink US export opportunities while low river levels raise US barge freight costs, weighing on US soybean basis and prices.
farmpolicynews.illinois.eduKeith GoodSep 22, 2023After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
Not enough comparable past events yet for a historical read.
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.
