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Bloomberg reports that China's shopping list of American farm goods is topped by key products. It notes Brazil and Argentina were major winners from the trade war because their soybeans displaced U.S. exports in China.
The article says China could drop its 25 percent retaliatory tariff on soybeans, which is America's largest agricultural export to China.
Removal of the 25 percent Chinese tariff on U.S. soybeans would restore competitiveness against South American supplies and support U.S. soybean prices. Until then, South American origins keep their share of Chinese demand.
bloomberg.comBloomberg NewsMar 7, 2019After 250 past neutral trade events, Soybeans moved a median +0.0% over 5 sessions (50% higher; middle half -1.4% to +1.6%), and -0.2% over 20.
After 26 past neutral trade events, Brazilian Real (BRL per USD) moved a median -0.1% over 5 sessions (46% higher; middle half -1.4% to +1.4%), and +1.3% 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.
