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U.S. soybean exports to China fell in the first half of 2019 to their lowest level in more than a decade. Pork sales also slipped in June as the trade war showed little progress.
Weak Chinese purchases leave U.S. soybean demand dependent on other buyers and keep pressure on prices. Lower pork sales point to softer demand for feed ingredients as well.
bloomberg.comBloomberg NewsAug 1, 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.
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.
