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US soybean exports to China this marketing year are expected to fall to about 10 million tons from roughly 30 million last year, per the U.S. Soybean Export Council. U.S. soybean ending stocks are projected at a record 1 billion bushels as farmers seek new markets.
A sharp loss of Chinese demand and record ending stocks point to sustained bearish pressure on soybean prices and a shift of export flows toward other buyers.
cnbc.comHuileng TanAug 8, 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.
