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Chinese importers committed to US soybean purchases after prices fell during the pandemic, with USDA reporting a 198,000-tonne sale for 2019-20 delivery on April 22. Китай has pledged 12.623 million tonnes of soybean purchases in the marketing year to date versus 12.922 million a year earlier.
Lower prices are drawing Chinese buyers into US soybeans, supporting US export demand. Brazilian and Argentine harvests still limit the upside.
world-grain.comHolly Demaree-SaddlerApr 23, 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.
