
The onshore spot yuan ended June 1 at 7.1340 per dollar, its strongest close since May 21, despite renewed US-China tensions. Gains were trimmed after a Bloomberg report that state firms were told to pause some US farm purchases.
The report of paused Chinese state purchases of US farm goods is bearish for US soybean and grain export demand, though the currency reaction was limited.
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.