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China's April soybean imports rose 13 percent to a record for the month, according to government data, as strong soybean meal demand fed a growing hog herd. USSEC's Jim Sutter said the U.S. has shipped about 33.5 million tons of soybeans to China this marketing year, roughly half of U.S. soybean exports.
South American farmers holding back beans for higher prices pushed more purchases toward the U.S.
Sustained Chinese hog-driven feed demand supports soybean and meal prices and keeps U.S. export flows strong. The shift of buying toward the U.S. while South America holds back supply is bullish for U.S. soy.
brownfieldagnews.comTom SteeverMay 16, 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.
