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USDA estimated that Chinese tariffs proposed on $50 billion of US goods would hit $16.5 billion in US agricultural exports. China announced higher tariffs on 106 US commodities, including soybeans, which would rise from 3 percent to 28 percent if enacted.
Soybean futures fell about 40 cents on the announcement, and the tariff increase would sharply cut US soybean export competitiveness in China.
dtnpf.comLin Tan DTN China Correspondent, Chris Clayton DTN Ag Policy EditorApr 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.
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.
Not enough comparable past events yet for a historical read.
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.
