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Argentine analyst Julio Calzada of Rosario's Board of Trade says the US-China trade dispute has strongly affected grain markets and Chicago soybean prices. He notes cheaper soybeans cut Argentine producer income and US soymeal entering Europe competes with Argentina's exports there.
Soybean oil in Argentina is reported below $600 per ton.
Lower Chicago soybean prices and added US soymeal competition in Europe weigh on global soymeal and soyoil values. Argentine farmer income and export earnings fall, which can affect Argentine selling pace.
chinadaily.com.cn王俊伟Jun 28, 2019After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
After 384 past bearish trade events, Soybean Meal moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and -0.5% over 20.
After 152 past bearish trade events, Soybean Oil moved a median -0.2% over 5 sessions (47% higher; middle half -2.1% to +2.1%), and -0.1% 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.
