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Xinhua reports that millions of tonnes of U.S. soybeans have shipped to China and that Chinese firms are inquiring about new purchases of soybeans, pork, sorghum and other farm goods. The U.S. has also exempted additional tariffs on 110 Chinese industrial items.
Ongoing shipments and new purchase inquiries support demand for U.S. soybeans and sorghum. Further deals depend on U.S. prices and quality, so the impact on prices is moderate.
xinhuanet.comJul 28, 2019After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.
Not enough comparable past events yet for a historical read.
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.
