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China is buying less U.S. soybean meal and soybeans, opening room for Argentina to sell more soymeal to China. A Rosario Board of Trade delegation is promoting Argentine products in China, and Chinese inspectors are checking Argentine soymeal quality ahead of possible approval.
Expanded Argentine soymeal access to China shifts global meal trade away from U.S. supply, adding competitive pressure on soybean meal prices.
proag.comSep 3, 2019After 384 past bearish trade events, Soybean Meal moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and -0.5% over 20.
After 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.
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.
