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China and the U.S. soybean industry signed letters of intent worth $5 billion covering an additional 12 million tonnes of U.S. soybeans for the 2017/18 marketing year. The commitments were part of a series of U.S.-China commercial deals announced during President Trump's visit to China.
Firm Chinese purchase commitments add to export demand for U.S. soybeans and support futures, though letters of intent are not binding and shipments will depend on execution.
reuters.comNov 9, 2017After 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.
