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US soybean exports to China were only 5,880 bushels in the week ending April 11, far below trade expectations. Total US soybean export sales for the week were 14.8 million bushels, below trade estimates of 22.1 million bushels.
Weak Chinese buying suggests either hardball negotiating or muted demand from African swine fever-hit crushers, which pressures soybean and soybean meal prices.
feedstuffs.comBen PotterApr 18, 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.
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.
