Argentina's agriculture secretary is leading a farm delegation in China to expand agricultural trade ahead of a expected bumper soybean harvest. Argentina is also pushing to export domestically processed soymeal, which China has so far resisted.
Any opening of China to Argentine soymeal would shift meal export flows away from US and Brazilian suppliers, but the talks are early and no approval has been granted.
After 224 past neutral trade events, Soybean Meal moved a median -0.2% over 5 sessions (43% higher; middle half -1.7% to +1.2%), and -0.2% over 20.
After 250 past neutral trade events, Soybeans moved a median +0.0% over 5 sessions (50% higher; middle half -1.4% to +1.6%), and -0.2% 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.