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Marketplace interviews Kluis Commodity Advisors' Al Kluis, who says soybean traders will not see the market turn until real orders materialize. The USDA had announced that China would buy more US soybeans before a Trump-Xi meeting, which is seen as a goodwill gesture.
Without firm Chinese orders, the goodwill purchase announcement is unlikely to sustain soybean prices, so traders remain skeptical. Feed buyers should watch actual export sales rather than announcements.
marketplace.orgDaniel ShinJul 1, 2019Not 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.
