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Brazilian July soybean basis at Paranagua fell to 74 US cents per bushel on May 25, about half the level of a month earlier, as US and China eased trade rhetoric. Chinese buyers returned to the US market and bought at least 132,200 metric tons for 2018-19 shipment.
Lower Brazilian premiums reduce the export advantage of Brazilian beans, while renewed Chinese buying supports US soybean demand.
dtnpf.comLin TanMay 29, 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 26 past neutral trade events, Brazilian Real (BRL per USD) moved a median -0.1% over 5 sessions (46% higher; middle half -1.4% to +1.4%), and +1.3% 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.
