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Three trade sources say China is likely to buy more Brazilian soybeans than usual for September to December. New-crop US soybean prices are rising on expectations of lower US supply.
Stronger Chinese demand for Brazilian beans tightens export competition for US supplies and supports soybean and meal prices.
reuters.comNaveen ThukralJul 17, 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.
