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China's state grain stockpiler Sinograin asked traders for U.S. soybean offers for old and new crop shipments, its first enquiry since early April. The move followed Beijing's pledge to buy more U.S. goods, including farm products, to avert a trade war.
Renewed Chinese state buying of U.S. soybeans and DDGS would ease export pressure on U.S. supplies and support soybean and feed meal prices. The size of any purchases will determine how much of the earlier discount is recovered.
cnbc.comDominique Patton, Hallie Gu, Naveen ThukralMay 23, 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.
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.
