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Chinese soy growers welcomed a proposed 25 percent tariff on American soybeans announced the previous week. China bought almost 60 percent of US soy exports worth $12.4 billion in the year ended August 31.
The proposed tariff threatens the largest export market for US soybeans, which would weigh on US soybean prices and meal demand.
apnews.comDake KangApr 13, 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.
After 384 past bearish trade events, Soybean Meal moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and -0.5% 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.
