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Genco Shipping CEO John Wobensmith expects a recovery in grain trade in 2019 after US-China trade disputes hit flows late 2018. BIMCO reported record February soybean exports and China took 7m of Brazil's 8.2m tonnes exported in the first two months of 2019.
Strong Brazilian soybean exports to China support soybean and meal demand and underpin bulk freight for grain vessels, while trade-dispute easing supports sentiment.
splash247.comJason JiangMar 18, 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.
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.
Not enough comparable past events yet for a historical read.
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.
