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Soybean futures closed lower on January 16 after reports that China's soybean imports fell about 40% year over year. Soymeal also fell $2.10 to $309.70 per short ton, while corn and wheat futures also declined.
Weaker Chinese import demand reduces export outlets for US soybeans and meal, which pressures soybean and soymeal prices, although hopes for renewed US-China trade talks limit the downside.
btimesonline.comPhenny Lynn PalecJan 17, 2019After 803 past bearish trade events, SOY moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
After 384 past bearish trade events, SBM moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and -0.5% 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.
