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China's soybean imports from the United States in 2020 rose 52.8% from a year earlier, according to customs data released Wednesday. However, the purchases likely fell short of the roughly 40 million tonnes needed to fulfil the soybean portion of the Phase 1 trade deal.
Continued Chinese buying of U.S. soybeans supports export demand for U.S. beans, but a shortfall against the Phase 1 pledge raises the risk of further purchase pressure to meet targets.
reuters.comJan 20, 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.
