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China's Ministry of Agriculture reported that its farm imports from the US fell 55.3% year on year in January to May, to 32.73 billion yuan. Soybean imports from the US dropped 70.6% in the first four months, while imports from Brazil, ASEAN, the EU, Australia and Canada rose.
Lost Chinese demand for U.S. soybeans is pressuring U.S. soy prices and export volumes, while Brazilian and other origins gain share. The shift is likely to persist while tariffs remain in place.
globaltimes.cnGlobal TimesJun 24, 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.
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.
