Loading…
Splash247 reports that bulk carriers carrying US Gulf soybeans to China are taking longer routes, including around South Africa, while waiting for a US-China trade breakthrough. President Trump said a trade deal signing may not come until 2020 or later.
Longer voyages and delayed US-China trade clarity add freight cost and uncertainty for US soybean exports to China, supporting Brazilian origin demand and weighing on US soybean basis.
splash247.comSam ChambersDec 5, 2019After 803 past bearish trade events, SOY moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
Not enough comparable past events yet for a historical read.
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.
