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ADM remains optimistic that China's purchases of U.S. farm products will reach the Phase One target. USDA confirmed 532,000 tonnes of U.S. soybean sales to China in one week, and China has accelerated purchases since late April.
Buying for September through January, the typical peak export period, remains open.
Confirmed sales and open peak-season demand support soybean prices, particularly for new-crop contracts.
reuters.comKarl PlumeMay 13, 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.
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.
