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Mixed messages for phase 1 from low latency soybean trade data

Ags - Grains/Beans 261 China 2678 Consumer Staples 654 Mode - Containerized 1309 Mode - Rail 91 Mode - Seaborne 1637 Trade Deals 930 U.S. 4753

American soybean farmers have been one of the winners from the phase 1 trade deal between the U.S. and China. There are some signs however that shipments may be slowing, raising the risk that President Trump may walk away from the deal. Official U.S. trade data for October and November don’t arrive until Dec. 4 and the first week of January respectively. Higher frequency data has mixed messages. Press reports suggest Chinese importers are cutting purchases from December due to weak crushing prices. USDA export data shows that shipments to China in the week to Nov. 12 were only inline wit...

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