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U.S. farmers are looking for new export markets after China, which bought about 32 million tons of U.S. soybeans last year, now buys almost none following a 25% tariff imposed in July. Sri Lanka's purchases of about 3,000 tons show how small alternative buyers are by comparison.
Losing China's soybean demand leaves U.S. beans dependent on smaller buyers at discounted prices, which weighs on futures and farm-gate values.
reuters.comP.J. HuffstutterNov 14, 2018After 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.
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.
