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The Waterways Journal reports that threatened Chinese soybean tariffs had not yet taken effect and that negotiations could still prevent them. It cites analysts who expect US soybeans and corn to be rerouted to other buyers, with the cargo still moving down the river to the Gulf.
Argentina and Mexico have bought US soybeans for 2018/19.
Diverted demand from other buyers supports US soybean prices, but a loss of Chinese purchases would still pressure export basis and river barge demand for soybeans.
waterwaysjournal.netWaterways JournalApr 16, 2018After 250 past neutral trade events, Soybeans moved a median +0.0% over 5 sessions (50% higher; middle half -1.4% to +1.6%), and -0.2% over 20.
After 480 past neutral trade events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.
