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Chinese buyers have almost stopped purchasing U.S. soybeans, and U.S. soybean sales to China were reported down 94% from last year through mid-October. Farmers are holding piled-up beans and hope the trade war ends before the crop spoils.
Idle, unsold U.S. soybean supplies keep storage costs high and cash prices weak until export demand returns.
nytimes.comBinyamin AppelbaumNov 5, 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.
