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Chinese importers bought about 240,000 tonnes of soybeans for December and January shipment from U.S. Gulf and Brazilian ports after prices fell sharply. China's confirmed U.S. purchases for the crop year were 19.7 million tonnes as of November 18, well below last year's pace.
Price-driven Chinese buying provides some near-term support for soybeans, but the much smaller U.S. sales total versus last year keeps the export outlook soft for U.S. meal and bean prices.
datamarnews.comRuth HollardDec 2, 2021After 250 past neutral trade events, Soybeans moved a median +0.0% over 5 sessions (50% higher; middle half -1.4% to +1.6%), and -0.2% over 20.
After 224 past neutral trade events, Soybean Meal moved a median -0.2% over 5 sessions (43% higher; middle half -1.7% to +1.2%), and -0.2% 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.
