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China's state-owned importers bought at least eight cargoes, about 480,000 tonnes, of U.S. soybeans for shipment mostly in October after new-crop futures fell to their lowest since March. Traders noted deals for up to 14 cargoes were under consideration, and China is restocking feed supplies for its hog herd.
Large Chinese purchases on the price dip support new-crop U.S. soybean values and signal renewed demand after a slowdown in spring buying.
profarmer.comMeghan VickJun 18, 2021After 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.
