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Iowa Soybean Association CEO Kirk Leeds says China's soybean and corn buying reflects Phase One commitments, its own crop shortfalls and above all the rebuilding of its hog herd. He says purchases have paused and may resume depending on China and Brazil supply and price dips.
A pause in Chinese buying weighs on US soybean and corn prices, though underlying herd-driven demand keeps medium-term feed demand firm.
brownfieldagnews.comOct 30, 2020After 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.
After 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% over 20.
After 224 past neutral trade events, Soybean Meal moved a median -0.2% over 5 sessions (43% higher; middle half -1.7% to +1.2%), and -0.2% 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.
