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Canadian soybean prices have fallen about 20 percent since April, tracking Chicago futures, after China imposed a 25 percent retaliatory tariff on US soybeans. Soybean futures fell to near decade lows after the USDA forecast record US bean stocks for 2018-19 on lower exports.
Canadian growers may benefit later in the year when Brazilian supplies tighten and China needs non-US beans.
Heavy US export losses to China push US soybean stocks higher, which weighs on the Chicago benchmark that Canadian prices follow. Tighter Brazilian supply later in the year could support prices for non-US origins.
cnbc.comJeff DanielsJul 13, 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.
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.
