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USDA confirmed China bought 1.13 million metric tons of U.S. soybeans, ending months of near-zero purchases under the 25% Chinese tariff. Officials expect the purchase to avoid the tariff if placed in China's strategic reserves.
Confirmed Chinese buying lifts U.S. soybean demand and prices, though tariff treatment of the purchase limits how much future trade will follow.
agweek.comBill Tomson, Agri-PulseDec 13, 2018After 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 342 past bullish trade events, Soybean Meal moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% 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.
