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Soybean futures fell 2.3 percent to a one-year low as farmers prepared for disruption to the roughly $12 billion in soybean shipments they send to China each year. Corn and wheat futures each fell less than 0.5 percent.
The July contract hit $9.03 a bushel before ending lower.
Expected loss of Chinese demand for US soybeans, and the import levies that make arriving cargoes less attractive to buyers, pressures soybean prices and could lead to cancelled purchases.
reuters.comTom PolansekJun 15, 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.
Soybean futures fell 2.3% to a one-year low on June 15 as the China trade war threatened roughly $12B of shipments, a direct demand and trade-flow driver, though it falls just after the window end on June 14.
