# BIMCO: Trade War Cease-Fire For Dry Bulk Sector

> USDA reported 754,609 tonnes of US soybeans ready for shipment to China in early 2019, up from 25,347 tonnes in December. It also reported sales of 3.2 million tonnes to China on February 5 and 6, mostly for delivery before September 1. BIMCO says the purchases support dry bulk tonne-mile demand as US-China talks approach the March 2 deadline.

- Date: 2019-02-07 · published 2019-02-07T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/60800-bimco-trade-war-cease-fire-for-dry-bulk-sector
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Renewed Chinese buying of US soybeans supports US soybean prices and export demand. The added volume also lifts ocean freight demand for grain shipping.

## Read by commodity

- SOY: bullish ▲
- OCEANFRT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2018-12-02 | [U.S., China agree on trade war ceasefire after Trump, Xi summit](https://feedsoft.ai/events/61446-u-s-china-agree-on-trade-war-ceasefire-after-trump-xi-summit.md) | +1.7% | +0.0% |
| SOY | 2020-12-01 | [Global Trade War a Boon for Black Sea Grain \| Feed & Grain](https://feedsoft.ai/events/49509-global-trade-war-a-boon-for-black-sea-grain-feed-and-grain.md) | -0.9% | +10.9% |
| SOY | 2019-09-16 | [China buys $67 million Worth of U.S. Soybeans as Trade War Eases](https://feedsoft.ai/events/56927-china-buys-67-million-worth-of-u-s-soybeans-as-trade-war-eases.md) | -0.2% | +5.8% |
| SOY | 2020-12-08 | [China-U.S. farm ties are stronger than ever despite trade war](https://feedsoft.ai/events/49502-china-u-s-farm-ties-are-stronger-than-ever-despite-trade-war.md) | +0.9% | +17.8% |
| SOY | 2021-10-04 | [Why Biden will try to enforce Trump’s phase one trade deal with China \| PIIE](https://feedsoft.ai/events/44413-why-biden-will-try-to-enforce-trump-s-phase-one-trade-deal-with-china-piie.md) | -0.3% | -0.9% |

## Sources

- marinelink.com: https://www.marinelink.com/news/bimco-trade-war-ceasefire-dry-bulk-sector-462647

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.