Loading…
AP reports that Trump's tariffs on Chinese goods drew Beijing's retaliation, with China's exports of about 60 percent of US farm shipments at risk. Soybean prices were already falling before the announcement, according to an Iowa Soybean Association official.
Retaliatory Chinese tariffs on US farm goods threaten the largest export market for US soybeans, pressuring soybean and meal prices.
apnews.comPAUL WISEMANJun 16, 2018After 803 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.
After 384 past bearish trade events, SBM moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and -0.5% 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.
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.
AP notes soybean prices were already falling before the tariff announcement as China retaliation put US farm exports at risk.
