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Soybean futures rose nearly one percent on September 29 as the dollar index retreated from its highest since August 18. USDA reported weekly soybean sales of 2.98 million tonnes, well above expectations, led by China at 1.4 million tonnes.
Sales well above expectations signal strong export demand, which supports soybean prices and tightens nearby supplies for crushers and feed users.
economies.comRami HaddadSep 29, 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.
After 13 past neutral trade events, US Dollar (Broad) moved a median -0.3% over 5 sessions (31% higher; middle half -0.7% to +0.1%), and -0.6% 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.
