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Brazilian brokers report higher demand for soybean shipments for August through October delivery, which is unusual because buyers normally place most South American purchases in the first half of the year. The shift suggests Chinese and other buyers are turning to Brazil in response to US tariffs.
Stronger buying of Brazilian beans supports Brazilian export prices and shifts trade flows away from US supply, which weighs on US soybean demand.
bloomberg.comTatiana FreitasJun 20, 2018After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% 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.
