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The New York Times reports the U.S. and China are near a trade deal in which China would make big purchases of American agricultural and energy goods. In return, the United States would likely drop tariffs on at least $200 billion of the $250 billion in Chinese imports subject to American levies.
A deal would restore Chinese demand for U.S. farm goods and could lift soybean, corn and sorghum prices. The scale of Chinese purchase commitments would be a major driver for export flows.
nytimes.comMar 4, 2019After 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.
After 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.
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.
