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Beijing could remove extra tariffs imposed since last year on U.S. farm products, according to the head of a government-backed trade association. The move would let importers buy up to $50 billion of U.S. goods without being directed to buy specific amounts.
Lifting retaliatory tariffs would restore U.S. soybean and grain competitiveness in China, supporting U.S. export demand and bullish sentiment for soybeans and corn.
reuters.comKeith ZhaiOct 31, 2019After 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.
After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% over 20.
After 342 past bullish trade events, Soybean Meal moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% 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.
