◂ Event Timeline

Mar 6, 2020TRADEChina

China grants duty exemption on U.S. soybean imports - sources

China has granted tariff exemptions to some crushers to import US soybeans, according to five sources. The exemptions follow a plan China announced in February to meet phase one trade deal commitments.

WHY IT MATTERS

Lower duties on US soybean cargoes make US beans more competitive for Chinese crushers, supporting US export demand and soybean prices relative to Brazilian supply.

AFFECTSSoybeans▲

SOURCE
reuters.comHallie GuMar 6, 2020

Price reaction & history

Soybeans▲bullishSO FAR1d -0.6%5d -3.8%20d -3.4%

After 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.

Apr 13, 2021China's Q1 soybean, grains imports surge on strong demand+4.9%
Jan 17, 2023China’s December soybean imports jump-3.1%
Sep 24, 2019China gives waivers to importers to buy U.S. soy exempt from tariffs: sources+1.5%
Nov 10, 2023China soybean imports top 100 million tonnes+2.4%
Oct 24, 2022China's monthly soybean imports jump | World Grain-0.6%

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.

Soybeans SOY · GP ▸

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