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A November U.S.-China deal package included a one-year commitment for China to buy $3.4 billion more U.S. soybeans, a three-year deal for $200 million more U.S. beef, and a three-year deal for $1 billion more U.S. pork. The package also included an LNG cooperation memorandum between Cheniere and CNPC.
These previously announced purchase commitments set a baseline for Chinese demand for U.S. soybeans, beef and pork. The commitments are already known, so they add little new price pressure.
politico.comAdam BehsudiMay 22, 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.
After 78 past bullish trade events, Live Cattle moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +1.2%), and +0.5% over 20.
After 85 past bullish trade events, Lean Hogs moved a median +0.8% over 5 sessions (54% higher; middle half -1.8% to +4.5%), and +4.0% 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.
