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US soybean exports to China are down about 98% in 2018 because of the tariff dispute. Shipments are instead moving to Brazil and Argentina, and some grain ships now sail a direct US-Argentina route.
Argentina's imports are also rising partly because of its own poor harvest.
Rerouted US soy shipments and Argentine imports show the trade war is distorting global flows, leaving US farm-gate soybean prices weak while South American origins absorb some demand.
axios.comKaveh WaddellNov 22, 2018After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
After 224 past neutral trade events, Soybean Meal moved a median -0.2% over 5 sessions (43% higher; middle half -1.7% to +1.2%), and -0.2% 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.
