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President Trump delayed a scheduled increase in tariffs on $200 billion of Chinese imports after US and Chinese trade talks made substantial progress. Trump said China committed to buy an additional 10 million tonnes of US soybeans, with a possible summit to conclude an agreement.
Committed Chinese purchases of US soybeans support US soybean demand and prices, and removing the tariff increase eases export risk for US farm products.
meatpoultry.comJay SjervenFeb 28, 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 342 past bullish trade events, Soybean Meal moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% 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.
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.
