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Soybean futures jumped to their highest in more than three months, and corn extended gains, after reports of a partial US-China trade agreement. China would make agricultural concessions while the US offers tariff relief, though the pact was tentative.
Expected Chinese purchases of US farm goods lift soybean and corn demand expectations, pushing prices higher.
bloomberg.comMichael Hirtzer, Isis AlmeidaOct 11, 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.
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.
