
The onshore yuan closed at 7.1105 per dollar on June 2, its strongest close since May 21, after a firmer-than-expected PBOC midpoint. The move followed a Bloomberg report that China had ordered state firms to pause some US farm purchases.
The reported pause in Chinese state purchases of US agricultural goods is bearish for US soybean, pork and grain export demand, though the currency itself moved only modestly.
After 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 22 past bearish trade events, Chinese Yuan (CNY per USD) moved a median -0.1% over 5 sessions (41% higher; middle half -0.7% to +0.3%), 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.