Loading…
China has bought roughly half of the roughly 10 million metric tons of U.S. soybeans expected after the trade truce struck last month, according to reports. Chicago futures rallied around the accord but have since retreated as China's benefits became clearer.
Lower-than-expected Chinese U.S. purchases weigh on U.S. soybean prices, while the narrowed Brazil premium (from about $20 to $4 a ton) reduces the cost advantage of U.S. beans for Chinese buyers.
farmprogress.comBloombergJan 21, 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 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.
