# Soybean Rises on Stronger Chinese Demand

> November soybean futures rose 0.88% to $8.905 per bushel on July 16 after USDA reported Chinese purchases of 522,000 tons of soybeans, with another 351,000 tons to unknown destinations. Weekly soybean export sales to China were about 380,000 tons, the smallest since mid-April. Brazil is projected to export a record soybean volume in 2020-21.

- Date: 2020-07-16 · published 2020-07-16T12:00:00.000Z
- Category: trade · region China · magnitude low
- Page: https://feedsoft.ai/events/52164-soybean-rises-on-stronger-chinese-demand
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Chinese buying supports US soybean prices, but weekly sales to China slowing to multi-month lows signals limited momentum. A record Brazilian export forecast caps the upside.

## Read by commodity

- SOY: bullish ▲
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2023-07-19 | [Freight rates rebound on stronger Chinese soybean demand - Fastmarkets](https://feedsoft.ai/events/35234-freight-rates-rebound-on-stronger-chinese-soybean-demand-fastmarkets.md) | +1.6% | -11.3% |
| SOY | 2021-04-13 | [China's Q1 soybean, grains imports surge on strong demand](https://feedsoft.ai/events/11178-china-s-q1-soybean-grains-imports-surge-on-strong-demand.md) | +4.9% | +17.2% |
| SOY | 2020-09-24 | [US soybean demand firm on Chinese state-owned companies' purchases: sources](https://feedsoft.ai/events/50986-us-soybean-demand-firm-on-chinese-state-owned-companies-purchases-sources.md) | +0.9% | +5.7% |
| SOY | 2026-10-28 | [Strong Chinese demand supports soybean recovery in Chicago - SAFRAS & Market](https://feedsoft.ai/events/140-strong-chinese-demand-supports-soybean-recovery-in-chicago-safras-and-market.md) | -1.6% | — |
| SOY | 2020-06-30 | [Soybeans Spike on Chinese Demand, Record Huge Monthly Gain](https://feedsoft.ai/events/52676-soybeans-spike-on-chinese-demand-record-huge-monthly-gain.md) | +3.3% | +3.5% |
| BRENT | 2021-04-14 | [China's Iranian oil buying spree crushes demand for Brazil, Angola crude](https://feedsoft.ai/events/47774-china-s-iranian-oil-buying-spree-crushes-demand-for-brazil-angola-crude.md) | +4.3% | +8.6% |
| BRENT | 2019-09-16 | [U.S. crude export demand surges after attack on Saudi facilities](https://feedsoft.ai/events/5708-u-s-crude-export-demand-surges-after-attack-on-saudi-facilities.md) | +6.6% | -0.3% |
| BRENT | 2017-11-03 | [LNG prices soar as China faces winter gas crunch \| LNG Industry](https://feedsoft.ai/events/10192-lng-prices-soar-as-china-faces-winter-gas-crunch-lng-industry.md) | +5.8% | +4.7% |

## Sources

- fxdailyreport.com: https://fxdailyreport.com/soybean-rises-on-stronger-chinese-demand/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.