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China's finance ministry said it would impose additional tariffs of 10% to 15% on agricultural products, including soybeans, corn, dairy and beef. The move was a direct response to a new round of US tariffs on Chinese goods.
Retaliatory tariffs on US farm goods make American soybeans and corn less competitive in China, its largest buyer, which pressures US export prices and pushes Chinese buyers toward Brazilian supply.
reuters.comMei Mei ChuNov 13, 2024After 803 past bearish trade events, SOY 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.
