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China bought 126,000 metric tons of US soybeans for shipment after Sept. 1, the earliest forward purchase since 2016, according to USDA data.
Dry weather in South America has threatened yields and may limit supplies from the February harvest.
Early Chinese buying for the 2021 crop signals firm import demand and tighter South American supply, supporting US soybean prices.
caixinglobal.comDec 11, 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.
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.
