
President Trump said he was backing away from some of his highest tariffs, but a 145% tariff on Chinese goods and tariffs on some Canadian and Mexican goods remain. China has retaliated against US farm goods, and the White House is considering direct payments to farmers similar to the first-term CCC programs.
Continued Chinese retaliation on US farm goods threatens export demand for soybeans and corn, which is bearish for US prices and supportive of competing South American origins.
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.
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.