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Brownfield reports soybeans and corn fell on fund selling and demand concerns after China raised its tariff on U.S. soybeans to 30% effective September 1. China is also reportedly raising tariffs on U.S. corn and sorghum, and African swine fever has reduced Chinese demand for feed.
New Chinese tariffs curb U.S. export demand for soybeans, corn and sorghum, adding bearish pressure on feed-grain and meal prices. Weaker Chinese hog demand from ASF further reduces feed usage.
brownfieldagnews.comAug 23, 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.
After 384 past bearish trade events, Soybean Meal moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and -0.5% over 20.
After 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% 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.
