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Chinese buyers returned to the US grain market, announcing a sale of over 100,000 tons of sorghum as they begin implementing the Phase One trade deal. Analysts also cited coronavirus as a near-term drag on demand, especially for beef.
Chinese sorghum buying supports US sorghum prices, while the coronavirus demand risk for beef is a bearish factor for cattle.
iowaagribusinessradionetwork.comStaff EditorMar 4, 2020Not enough comparable past events yet for a historical read.
After 121 past bearish trade events, Live Cattle moved a median -0.6% over 5 sessions (40% higher; middle half -1.6% to +0.8%), and -0.3% 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.
