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Chinese rapeseed and meal prices fell after Canada said it would give firms temporary tariff relief on Chinese EV imports. Canola and soybeans both rose that day.
Corn spreads have also been strengthening during harvest, and US export sales were strong for soybeans and corn but weak for wheat.
Easing trade tensions reduce risk to Canadian canola exports and lift soybean sentiment. Firm corn spreads point to stronger cash demand than the large carryout would suggest.
stonex.comCraig TurnerOct 21, 2024Not enough comparable past events yet for a historical read.
After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% 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.
