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Trump called off the planned tariffs on Mexico after Mexico agreed to tighten its borders. The article also references a separate China and US agreement to cut tariffs on $60 billion of goods, including agriculture.
Removing tariffs on Mexican imports avoids a hit to US pork, poultry and grain exports to Mexico, and the China tariff cuts on agricultural goods could support US soybean and feed demand.
reuters.comRoberta RamptonJun 8, 2019After 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.
After 85 past bullish trade events, Lean Hogs moved a median +0.8% over 5 sessions (54% higher; middle half -1.8% to +4.5%), and +4.0% 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.
