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Chinese firms have begun purchase inquiries with U.S. exporters and applied for tariff exemptions ahead of US-China talks in Shanghai. China had also made a 51,072-tonne sorghum purchase despite a 25% tariff, while cancelling a small soybean purchase.
Renewed inquiries and tariff exemption requests raise the chance of larger U.S. farm purchases, which supports soybean and sorghum prices. Actual demand remains uncertain until deals are signed.
scmp.comFinbarr BerminghamJul 25, 2019After 696 past bullish trade events, SOY 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.
