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US soybean futures rallied to their highest since at least August after Washington and Beijing agreed to a truce, with Trump agreeing to hold off on new tariffs for 90 days. Chinese buyers say Beijing must remove its 25% tariff before the promised large purchases can happen, and prices eased from early highs.
The truce lifts US soybean prices, but the 25% Chinese tariff keeps US beans at a premium to Brazilian supplies. Until the tariff is removed, buying may stay limited ahead of the record Brazilian harvest.
agcanada.comAGCanadaDec 3, 2018After 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.
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.
