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Soybeans and corn rose modestly on commercial and technical buying while the market awaited details of the US-China trade deal. China is expected to resume buying around January 1, 2019, when Brazil's old crop runs out.
November US soybean exports were about 5 million tons, double the level of November 2017.
Expected Chinese demand supports US soybeans and soybean meal before the large Brazilian crop arrives. Uncertainty over the deal's details limits how far prices can rise.
brownfieldagnews.comDec 4, 2018After 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 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% 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.
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.
