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Chinese traders have scrambled to find soybean alternatives to reduce dependence on U.S. supply after Beijing curbed U.S. imports during the trade war. Buyers say sourcing options are limited and the global supply chain has not yet adjusted.
Tight alternative supply and China's continued reliance on imports support soybean and soybean meal prices, while trade uncertainty adds volatility.
caixinglobal.comHuang Shulun, Liu JiefeiOct 31, 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.
