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China Customs reported that Q1 2020 imports of US agricultural products reached 35.56 billion yuan, roughly double a year earlier, with soybean imports doubling and pork imports rising more than sixfold. Chinese exports to the US fell 23.6% over the same quarter.
Strong Chinese purchases of US soybeans and pork support US soybean and hog demand under the phase one deal. The data confirms follow-through on commitments.
cnbc.comEvelyn ChengApr 14, 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 85 past bullish trade events, Lean Hogs moved a median +0.8% over 5 sessions (54% higher; middle half -1.8% to +4.5%), and +4.0% over 20.
Not enough comparable past events yet for a historical read.
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.
