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The U.S. raised tariffs on $200 billion of Chinese goods from 10 to 25 percent and threatened more. Analysis suggests that the effect on ocean shipping depends on ship type and on changes in ton-miles.
U.S. soybean sales to China have already been sharply curtailed and rerouted, with Europe becoming the largest destination.
Lower U.S. soybean flows to China weigh on soybean and meal demand. Rerouted cargoes add ton-miles, which partly offsets the freight impact.
freightwaves.comGreg MillerMay 11, 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.
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.
