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US soybean exporters are struggling to sell beans after China stopped buying due to high tariffs. Shippers are trucking beans long distances to Mississippi River barges or Gulf and East Coast ports to reach new buyers in Europe, South America and Africa.
Lost Chinese demand leaves soybean supplies unsold and forces costly rerouting, which pressures cash prices and raises freight costs. Exporters must find new buyers at lower prices.
upi.comJessie HigginsOct 29, 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.
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.
