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China announced new tariffs on more than 5,000 products, including agricultural goods such as chicken, wheat, sugar, ginseng and peanuts, following new US tariffs on Chinese goods. An options strategist warned the escalating trade war could weaken global commodity demand.
Retaliatory tariffs on chicken and wheat reduce US export access to China, which is bearish for those prices and adds downside pressure on broader commodity demand.
cnbc.comJeff DanielsMay 13, 2019After 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.
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.
