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Commodities fell broadly after Trump threatened tariffs on an additional $200 billion of Chinese goods, with agriculture the worst hit. A Bloomberg commodities gauge dropped to its lowest level since early April.
The threatened tariffs on China, a major importer of US soybeans, reduce expected demand and push farm commodity prices lower.
bloomberg.comThomas BiesheuvelJun 19, 2018After 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 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% 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.
