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Iowa State economist Chad Hart says recent Chinese buying of US soybeans is improving the price outlook. USDA projects US soybean exports rising from 1.7 billion bushels to more than 1.8 billion in the next marketing year.
Renewed Chinese purchasing and higher projected exports support US soybean prices and tighten supplies available for meal production.
brownfieldagnews.comMark DorenkampJun 13, 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.
