Loading…
The USDA reported a sale of 544,000 metric tons of U.S. soybeans to China for the 2018-19 marketing year, the largest since late March. The purchase came hours before Trump and Xi were due to meet at the G-20 summit in Japan.
A large new Chinese purchase supports U.S. soybean export demand and prices, though USDA still projects sharply lower sales than last year. Further buying around the summit would be a key price signal.
subscriber.politicopro.comJun 28, 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.
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.
