Loading…
Argentine officials are in China promoting soymeal and seeking approval for direct meal exports, which China currently does not import. China imports soybeans and crushes them locally, and the US soybean trade has been hit by the trade war.
Approval would open a new channel for Argentine meal into the world's largest hog-feed market, a potential bearish factor for meal prices, though approval is described as a slow process.
producer.comHugh Bronstein, Reuters News ServiceApr 24, 2019After 224 past neutral trade events, SBM 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, SOY 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.
