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USDA projects China's U.S. agricultural purchases will fall 45% to $9 billion in the current fiscal year because of the trade war. China is expected to drop to fifth place among U.S. export markets, and soybean sales are hit hardest as a record crop builds stocks.
A record U.S. soybean crop combined with the loss of China's demand points to large stocks and downward pressure on soybean prices.
agriculture.comChuck AbbottNov 30, 2018After 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.
Not enough comparable past events yet for a historical read.
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.
