Loading…
Chinese customs data showed imports of U.S. soybeans in November 2020 reached 6.04 million tonnes, up 136% from a year earlier and up from 3.4 million tonnes in October. Year-to-date U.S. soybean imports were 20.05 million tonnes, up 45%, while Brazilian November arrivals fell 29% year on year as the South American season wound down.
Strong Chinese buying of U.S. beans under the Phase 1 deal supports U.S. soybean and meal prices, while the seasonal drop in Brazilian shipments tightens near-term global supply and is bullish for soybeans.
brecorder.comReutersDec 25, 2020After 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.
