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China announced an additional 50pc tariff on US goods, raising the total to 84pc from 10 April. Private Chinese importers had already stopped buying US grains and oilseeds since December, and corn arrivals from the US fell sharply.
Because private buyers had already withdrawn, the added duties are unlikely to cut further US-origin volumes, which limits the bearish price impact. Risk remains if state buying or the trade dispute widens.
argusmedia.comMegan EvansMar 25, 2024After 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.
After 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.
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.
