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CBOT soybean futures fell on profit-taking after six days of gains, despite USDA reporting Chinese purchases of 585,000 tonnes of U.S. soybeans. Wheat and corn also declined on technical selling, and traders noted an approaching December 15 U.S. tariff deadline on Chinese goods.
Chinese buying supports soybean demand, but uncertainty over the trade deal and African swine fever weakening Chinese feed demand limit upside for soybeans and meal.
country-guide.caMark WeinraubDec 11, 2019After 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.
After 123 past bearish trade events, Lean Hogs moved a median -0.4% over 5 sessions (43% higher; middle half -2.9% to +2.0%), 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.
