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Soybean futures moved in narrow ranges as traders weighed China's Commerce Ministry statement that the two sides agreed in principle to reduce tariffs on US agricultural products. The statement followed a phone call between Chinese Foreign Minister Wang Yi and US Secretary of State Marco Rubio.
A tariff cut could bring US soybeans below the cost of Brazilian supplies and open the way for Chinese purchases, which would support prices if the move is implemented.
bloomberg.comMichael Hirtzer, Erin AilworthAug 1, 2026After 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.
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.
