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China issued a list of US exports to face 25 percent tariffs within hours of the USTR publishing revised Section 301 tariff lists on June 15. The list targets $44.9 billion of 2017 US exports, including nearly $17 billion in agricultural and food products such as soybeans, sorghum and meats.
Tariffs on about $17 billion of US farm exports would reduce Chinese demand for soybeans, sorghum and meats, pressuring US feed commodity prices and widening spreads against South American supply.
piie.comJun 22, 2018After 802 past bearish trade events, SOY moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
Not enough comparable past events yet for a historical read.
After 121 past bearish trade events, LCATTLE moved a median -0.6% over 5 sessions (40% higher; middle half -1.6% to +0.8%), and -0.3% over 20.
After 123 past bearish trade events, HOGS moved a median -0.4% over 5 sessions (43% higher; middle half -2.9% to +2.0%), and -0.2% 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.
