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COFCO and ADM signed a memorandum of understanding on soybean trade in the presence of Presidents Xi Jinping and Donald Trump on November 9. The MOU covers 4 million tonnes of U.S. soybeans, and COFCO said it will deepen long-term cooperation with ADM.
The agreement adds to a cluster of Chinese soybean purchase commitments from the U.S., supporting export demand expectations for soybeans.
cofco.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.
