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Agriculture Secretary Sonny Perdue will wait until about Labor Day before deciding whether to proceed with promised aid for farmers hit by China's retaliatory tariffs, and has not said how USDA would help or how much it might spend. China has tariffed US pork, ethanol, apples and almonds, and has signaled duties on soybeans, corn, sorghum, wheat, DDGS and other products, while US tariffs on $50 billion of Chinese goods are set for July 6.
Uncertainty over the size and timing of farm aid, combined with threatened Chinese duties on US soybeans, corn, sorghum and DDGS, weighs on US export demand and US futures. Any aid package could support farm income but would not restore lost export volumes.
agriculture.comJun 27, 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 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% over 20.
Not enough comparable past events yet for a historical read.
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.
