
A Reuters column notes the August USDA soybean numbers and frequent large Chinese purchases drove a record CBOT soy rally. The excerpt is limited to these points about the market's expectations of a smaller U.S. crop.
Expectations of a smaller U.S. crop and heavy Chinese buying tighten old-crop supply, supporting soybean and meal prices.
After 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.