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CNBC reports Chinese imports of U.S. soybeans between September and November rose 13 times from a year earlier. All Chinese purchases this year came through special arrangements that avoided retaliatory tariffs of about 30%.
U.S. soybean exports to China had dropped sharply in late 2018 after Beijing's retaliation.
Surging purchases via tariff-avoiding channels show demand returning to U.S. soybeans, supporting prices while the arrangements last.
cnbc.comEvelyn ChengDec 10, 2019After 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 342 past bullish trade events, Soybean Meal moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% 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.
