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China's imports of US soybeans in December 2019 reached 3.09 million tonnes, 44 times the level a year earlier. Full-year 2019 imports from the US were 16.94 million tonnes, slightly up from 2018.
Customs data showed the December figure was still below pre-trade-war levels.
The data confirms that Chinese buying of US soybeans is recovering but remains well below 2017 levels. Future purchases under the phase one deal would need to be much larger to lift prices sustainably.
bworldonline.comCEDTyCleaFeb 2, 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.
