
USDA announced sales of 715,000 metric tons of US soybeans to China on July 22, with 649,000 tons scheduled for 2020-21 delivery. This followed smaller Chinese purchases of new crop soybeans announced on the two previous days.
US Pacific Northwest soybeans were quoted about $6 per ton cheaper than Brazilian beans.
Large new-crop purchases by China support US soybean prices and export demand for the coming marketing year. Competitive US pricing versus Brazil may keep Chinese buying active.
After 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.