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A U.S.-China trade truce signaled at the G20 summit on June 29 and a Chinese purchase order for 544,000 tons of U.S. soybeans improved dry bulk sentiment. Analysts expect Chinese soybean purchases to support Panamax and Supramax demand.
Renewed Chinese buying of U.S. soybeans would expand US export flows and support soybean and meal prices, while also lifting demand for Panamax and Supramax freight.
freightwaves.comGreg MillerJul 3, 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.
After 342 past bullish trade events, Soybean Meal moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% 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.
