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The yen weakened as the dollar gained on the ongoing US-China trade dispute. Reports said China was seriously considering limiting rare-earth shipments to the US and halting imports of US agricultural products, while the US said it was in no rush to finalize a new trade deal.
A Chinese halt to US farm imports would remove a key export market for US soybeans and other crops, pressuring soybean prices. The reported threat also adds to uncertainty over the US-China trade deal.
tradersasset.comAndrew WrightMay 30, 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.
