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China announced tariffs on US agricultural machinery, coal, LNG and crude oil in retaliation for new US duties. Soybeans and other agricultural commodities were left unaffected.
Sparing farm commodities limits the immediate hit to US grain and soybean export demand from China.
After 250 past neutral trade events, Soybeans moved a median +0.0% over 5 sessions (50% higher; middle half -1.4% to +1.6%), 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.