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The U.S. soybean industry and China signed two new agreements during Trump's Asia trip. The first is a China Chamber of Commerce letter of intent for 8 million metric tons of U.S. soybeans worth $3.4 billion, and the second is an ADM-COFCO sale of 4 million metric tons worth $1.6 billion.
These commitments of about 12 million tonnes raise expected Chinese soybean imports from the U.S., which supports soybean prices.
feedstuffs.comNov 10, 2017After 696 past bullish trade events, SOY 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.
