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The House Select Committee on the Chinese Communist Party approved recommendations to raise tariffs on Chinese exports in a 53-page report that stops short of revoking permanent normal trade status. The report calls for tariff increases over a short period and for USDA and USTR to find alternative markets for farm exports to offset Chinese retaliation.
The risk of Chinese retaliation against US soybeans and other farm exports could cut demand and pressure prices, although the recommendations are not yet law.
agri-pulse.comPhilip Brasher, Noah WicksDec 13, 2023After 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.
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.
