
Chinese buyers are holding back on soybean purchases ahead of a Trump-Xi summit, with near-term shipment buying stalled. Crushers in China face losses of about 180 yuan per ton for December delivery, and Brazil-origin margins for November-January shipment are also poor.
Importers have already bought record South American volumes.
Reduced Chinese buying of US soybeans and weak crush margins limit demand, though a possible trade deal could revive US export sales. Price direction depends on whether the summit yields a purchase agreement.
After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
After 384 past bearish trade events, Soybean Meal moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and -0.5% 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.