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USDA data released April 23 showed China bought 1,400 metric tons of US beef and 272,000 tons of US soybeans, following a 198,000-ton soybean sale announced April 22. Analysts cite the phase one deal and tariff exclusions as drivers of continued purchases.
Continued flash sales of US soybeans to China add export demand and support soybean prices. Beef purchases are small but support cattle sentiment.
agweek.comJenny SchlechtApr 24, 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 78 past bullish trade events, Live Cattle moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +1.2%), and +0.5% 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.
