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An American Farm Bureau analysis shows China has more advanced new-crop sales of U.S. soybeans, sorghum and cotton than in recent years, while corn sales are slower. The economist said sales remain moderate relative to expected production, and China is still behind its phase one commitments.
Early new-crop bookings from China support expected export volumes for the coming marketing year. Lagging corn sales and cancellation risk leave the price impact moderate.
texasfarmbureau.orgJulie TomascikAug 21, 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.
Not enough comparable past events yet for a historical read.
After 480 past neutral trade events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), 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.
