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Renewed U.S. trade threats include tariffs on Brazilian and Argentine steel and aluminum tied to alleged currency manipulation, a 100% tariff threat on French goods, and comments that a China deal may wait until after the 2020 election. Analysts expect the trade dispute to weigh on shipping volumes into 2020.
Renewed uncertainty over US-China purchases and South American trade relations weighs on grain export demand and freight volumes, which is bearish for soybeans and ocean freight.
freightwaves.comGreg MillerDec 3, 2019After 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.
Not enough comparable past events yet for a historical read.
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.
