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Markets fell sharply on Thursday after President Trump announced new tariffs on China, while equities had been up before the announcement. Grain markets were already under pressure during the week and were turned short by the author's algorithm.
Meat markets were stronger during the week.
New tariffs on China hurt expected US grain export demand and pressure prices. Weakness in grains is consistent with the trade-driven selling across the complex.
globalagnetwork.comAug 4, 2019After 683 past bearish trade events, CORN moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% over 20.
After 803 past bearish trade events, SOY moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
After 375 past bearish trade events, WHEAT moved a median -0.2% over 5 sessions (47% higher; middle half -2.0% to +1.1%), and -0.1% 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.
