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The Wall Street Journal reported that Chinese negotiators offered a package of nearly $70 billion in U.S. farm and energy purchases, including soybeans, corn, crude oil and coal, if Washington backs off tariffs. The talks followed a Beijing visit by Commerce Secretary Wilbur Ross.
A potential purchase package would support U.S. soybean and corn demand and energy exports, but it is only a proposal and depends on tariff relief, so the price effect is limited for now.
cnbc.comEvelyn ChengJun 5, 2018After 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 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.
After 36 past bullish trade events, Crude Oil (WTI) moved a median +1.6% over 5 sessions (69% higher; middle half -2.0% to +4.5%), and +0.7% 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.
