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China bought at least 12.3 million bushels of U.S. soybeans in the latest week, the first flash report of Chinese buying since April 23. Analysts say China likely bought about one million metric tons each for October and November delivery, to be shipped from the Pacific Northwest.
Large Chinese purchases for fall shipment support U.S. soybean export demand and prices, tightening supply for crushers producing meal.
rrfn.comCarah HartJun 25, 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.
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.
