
Malaysian palm oil futures fell about 0.2% on August 2, 2019, tracking weaker overnight Chicago soyoil. President Trump announced a 10% tariff on $300 billion of Chinese imports starting September 1 and threatened further increases.
Global stocks fell, safe-haven assets rose, and US soybeans were set for their biggest weekly loss in three months.
New US tariffs on Chinese goods hurt demand expectations for soy and vegetable oils, which pressures palm oil and soyoil prices lower.
After 158 past bearish trade events, Palm Oil moved a median +0.0% over 5 sessions (51% higher; middle half -1.3% to +0.8%), and -1.4% over 20.
After 152 past bearish trade events, Soybean Oil moved a median -0.2% over 5 sessions (47% higher; middle half -2.1% to +2.1%), and -0.1% over 20.
After 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.