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Chinese commercial crushers bought up to seven U.S. soybean cargoes for December and January shipment, according to two traders. The purchases came even as up to 2 million tonnes of American cargoes waited to offload at Chinese ports, with confusion persisting over extra tariff deposits for U.S. shipments under tariff-free quotas.
Renewed commercial demand for U.S. beans supports U.S. export prices and narrows the discount to South American supply, though port backlogs and tariff payment problems limit how quickly the buying converts into flows.
reuters.comHallie GuNov 13, 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.
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.
