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An explainer piece describes soybeans as a major U.S. cash crop grown on more than 303,000 farms and notes that the U.S. produced 123.7 million metric tons in 2018. It says soybean meal for livestock feed drives much of the export value of traded beans and frames soybean prices as a gauge of the U.S.-China trade war.
The article gives background rather than new information, but it reinforces that China's feed demand for soymeal is the main driver of global soybean trade and prices.
globaltrademag.comAndrea DurkinOct 30, 2019After 250 past neutral trade events, Soybeans moved a median +0.0% over 5 sessions (50% higher; middle half -1.4% to +1.6%), and -0.2% over 20.
After 224 past neutral trade events, Soybean Meal moved a median -0.2% over 5 sessions (43% higher; middle half -1.7% to +1.2%), and -0.2% 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.
