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Reuters reports Canadian farm exports including soybeans, peas and pork are facing new obstacles at Chinese ports amid a diplomatic dispute. China has blocked some Canadian canola cargoes from Richardson and Viterra over alleged pests, and other canola cargoes have been cancelled, forcing resale at discounts.
Blocked canola and soybean cargoes to China shift supply to other buyers at discounted prices, weighing on Canadian canola and pea values and adding pressure to canola meal markets.
cfwf.caSep 13, 2020Not enough comparable past events yet for a historical read.
After 53 past bearish geopolitics events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -1.9% to +1.2%), and +1.0% 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.
