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China's Customs Tariff Commission will exclude some U.S. agricultural products, including soybeans and pork, from additional tariffs. The move follows U.S. adjustments to tariffs on Chinese goods scheduled for October 1.
Chinese officials said they support domestic firms buying a certain amount of U.S. farm produce.
Tariff exclusions for soybeans and pork restore some competitiveness for U.S. origin supplies, supporting export demand and bullish sentiment for soybeans and meal.
english.www.gov.cnSep 13, 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 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.
After 28 past neutral trade events, Lean Hogs moved a median -0.4% over 5 sessions (46% higher; middle half -2.2% to +0.7%), and -0.3% 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.
