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The US set tariffs on about $50 billion of Chinese goods, and China's Commerce Ministry said it would respond with its own tariffs. US soybean futures fell 1.5 percent to a one-year low on concern that the escalating fight will threaten shipments to China, the biggest buyer.
New tariffs on US goods, including soybeans, directly reduce export demand and push soybean prices lower.
reuters.comDavid LawderJun 16, 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.
US tariffs on $50B of Chinese goods and the expected Chinese response pushed soybean futures to a one-year low on concern for shipments to the biggest buyer.
