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August soybean futures rose about 2.5% to $8.83 a bushel on June 30, posting their first monthly gain since February. Tianjin port imports of soybeans from January to May were up sharply, mainly from the US and Brazil.
Analysts said China is rebuilding inventories and expects purchases in the fourth quarter.
Strong Chinese import demand for US and Brazilian beans supports soybean prices and feed-protein supply costs.
fxdailyreport.comDaffa ZakyJun 30, 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.
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.
