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USDA reported private exporters sold 828,000 tonnes of soybeans to China for the 2018/19 marketing year, the second such sale since the latest trade talks. China has stepped up purchases but remains well below typical levels, while the US soybean stockpile is at record highs.
Chinese purchases support near-term US soybean demand and prices, though volumes remain small relative to the record US stocks.
cnbc.comReutersApr 1, 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.
