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July soybeans finished the week of May 17 up 9 cents at $12.28 after the U.S. announced new tariffs on Chinese goods, and China has not yet retaliated against U.S. soybean imports. Flooding in Rio Grande do Sul, Brazil, disrupted port traffic and crush operations.
Tariff tension raises the risk of Chinese retaliation against U.S. soybeans, while Brazilian port and crush disruptions provide some near-term support to prices.
dtnpf.comTodd HultmanMay 20, 2024After 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.
After 224 past neutral trade events, Soybean Meal moved a median -0.2% over 5 sessions (43% higher; middle half -1.7% to +1.2%), and -0.2% 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.
