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China has targeted a list of US farm goods, including soybeans worth about $14 billion, sorghum over $1.1 billion, wheat around $440 million and corn above $150 million. China bought more than $21 billion in US farm goods in 2016.
Targeting sorghum, wheat and corn adds downside risk across US feed grains, as China's purchases of these products would be at risk.
politico.comCatherine BoudreauApr 4, 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.
Not enough comparable past events yet for a historical read.
After 375 past bearish trade events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -2.0% to +1.1%), and -0.1% 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.
