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A USDA official said China has bought only about half of the 20 million metric tons of soybeans it pledged, with roughly 9 to 10 million tonnes shipped and accepted. China had also halted imports of U.S. farm goods amid escalating trade tensions.
Persistent shortfalls against purchase commitments signal weak Chinese demand for U.S. soybeans, keeping pressure on U.S. soybean prices and basis.
cnbc.comReutersAug 23, 2019After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
After 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.
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.
