Chinese buyers returned to the US market after the tariff waiver list was published, with exporters selling four sorghum cargoes for first-half shipment. Importers also asked about soybeans and wheat, which lifted Chicago futures.
Brazilian soybeans remained cheaper, so firm bids for US beans did not appear.
Sorghum sales and wheat inquiries show that waivers are beginning to translate into actual US export demand. Competition from cheaper Brazilian soybeans limits the upside for US beans.
Not enough comparable past events yet for a historical read.
After 250 past neutral trade events, Soybeans moved a median +0.0% over 5 sessions (50% higher; middle half -1.4% to +1.6%), and -0.2% over 20.
After 431 past bullish trade events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), and +0.5% 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.