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Soybeans and corn rose on commercial and technical buying after reports that Beijing agreed in trade talks to buy 5 million tonnes of US soybeans. Details of the purchase remained unclear and no final agreement had been reached before the March 1 deadline.
A Chinese purchase commitment supports US soybean prices, but uncertainty over details limits the rally and keeps the market sensitive to trade talk outcomes.
brownfieldagnews.comFeb 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.
After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% 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.
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.
