Loading…
COFCO, a major Chinese state-owned trader, said China can replace US soybean imports with supplies from Brazil and Argentina. It also said China can buy more soybean meal, sunflower meal, canola meal and fishmeal.
Signals durable shifts in China's protein sourcing away from US product, which weakens US export demand and supports Brazilian and Argentine soy and meal flows.
rrfn.comDon WickJul 12, 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.
After 384 past bearish trade events, Soybean Meal moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and -0.5% over 20.
Not enough comparable past events yet for a historical read.
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.
