Loading…
Argentina's bid to gain access to the Chinese soymeal market has stalled, according to an industry chamber. China's 25 percent tariff on U.S. soybean imports has effectively halted U.S. soybean shipments to China.
Argentina's soymeal industry was already weakened by a drought on the Pampas that reduced domestic soybean supplies this year.
Stalled Argentine access to China keeps Chinese soymeal demand tied to tariff-disrupted flows, supporting soybean meal prices while Argentine crushers struggle with short supply.
reuters.comHugh BronsteinNov 23, 2018After 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.
After 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.
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.
