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A CWF commentary says China expanded its list of countries permitted to export grains and fodder, adding 10 grain and tuber items. It warns Canada faces more competition in soybeans, including from new suppliers and U.S. Phase One purchase commitments.
Expanded Chinese import sourcing and U.S. purchase commitments may divert demand from Canadian exports, a bearish factor for Canadian grain and soy.
cwf.caFeb 9, 2021After 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.
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.
