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Bloomberg calculations showed China had bought about half of its 2020 Phase One purchase target by November, while U.S. soybean and corn exports to China surged. Analysts also expected China's soybean imports to top 100 million tonnes in 2020-21, with US imports possibly doubling to 36 million tonnes.
Strong Chinese demand for U.S. soybeans and corn supports U.S. export prices, though the trade-deal shortfall may prompt further buying.
farmpolicynews.illinois.eduKeith GoodJan 5, 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 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), 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.
