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The U.S. and China agreed to a trade war ceasefire after the Trump-Xi summit, with tariffs on $200 billion of Chinese imports held at 10% and not raised to 25% at this time. The White House statement describes the agreement as a temporary pause.
The ceasefire reduces the risk of escalating tariffs on U.S. farm exports, supporting export expectations and risk sentiment across grain and oilseed markets.
reuters.comRoberta RamptonDec 2, 2018After 696 past bullish trade events, SOY 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.
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.
The US-China trade ceasefire after the Trump-Xi summit eased trade-war fears and lifted sentiment and demand expectations for US grains, a likely driver of the corn rally.
