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The U.S. Soybean Export Council says China's Ministry of Commerce may commit to a record purchase of U.S. soybeans when a delegation signs an accord in Des Moines on July 13. A record would exceed the 13.4 million tons agreed in 2012, though Chinese soybean imports are expected to slow in coming months.
A large Chinese purchase commitment would support U.S. soybean export demand and prices, while expected seasonal slowing of Chinese imports limits the near-term upside.
farmprogress.comBloombergJun 20, 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 342 past bullish trade events, Soybean Meal moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), 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.
