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CBOT soybeans plunged after China announced a 25% tariff on U.S. soybean imports, then recovered as buyers from Europe, Mexico and Argentina bought U.S. beans that had become cheaper than Brazilian supplies. USDA cut its global soybean ending stocks forecast to 90.8 million tonnes.
May corn and soybean futures are near recent highs.
Export demand shifting to U.S. origin and lower global ending stocks support soybean prices despite the Chinese tariff, while corn remained largely unaffected.
grainews.caGFM Network NewsApr 11, 2018Not enough comparable past events yet for a historical read.
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.
