
Reuters reports Brazil is expected to win a larger share of China's soybean imports in the coming months, with China reportedly buying about 5 million tonnes from Brazil for Q4 2017, double the same period last year. Brazil still has unsold stocks from a record 2016/17 crop of 114.1 million tonnes.
Brazilian competition during the US export peak season reduces demand for US beans from China, which is bearish for US soybean prices and export flows.
After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
After 224 past neutral trade events, Soybean Meal moved a median -0.2% over 5 sessions (43% higher; middle half -1.7% to +1.2%), and -0.2% 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.