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COFCO and Sinograin have together bought at least 10 cargoes of U.S. soybeans, according to two sources. Sources warn that future purchases could be jeopardized by renewed trade tensions.
State buying supports U.S. soybean export demand, but threatened tariffs raise the risk of cancelled future purchases, which is bearish for U.S. soybean prices.
reuters.comHallie GuJun 1, 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.
