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On November 28, China said it would impose an additional 25% tariff on about $50 billion of U.S. imports, with tariffs on roughly $34 billion starting July 6 and covering soybeans, corn, wheat, sorghum, rice, beef, pork and other farm goods. The article notes China still buys more U.S. soybeans than any other farm product.
New Chinese tariffs on U.S. farm goods threaten export demand for soybeans, corn, wheat, sorghum and rice, which is bearish for U.S. prices and widens spreads with Brazilian supply.
feedandgrain.comDec 1, 2020After 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.
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.
After 375 past bearish trade events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -2.0% to +1.1%), and -0.1% over 20.
Not enough comparable past events yet for a historical read.
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.
