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Canadian soybean growers say Chicago futures have dropped about 15 percent since mid-April to around US$8.75 a bushel, driven by the US-China tariff fight. The US tariffs on $50 billion of Chinese imports and Beijing's planned retaliation are due to take effect July 6.
Large global harvests have also weighed on prices.
Chicago soybean price weakness passes through to Canadian feed supplies, and the July 6 tariff deadline adds uncertainty for export demand.
theglobeandmail.comEric AtkinsJun 28, 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.
