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President Trump reportedly delayed an announced trade action against China, with agriculture lobbying and farm-state politicians urging the administration to avoid tariffs or penalties. Agriculture Secretary Perdue and USTR Lighthizer were among those pressed, and about 60 percent of US soybean output is exported, with China the largest customer.
A delay reduces the near-term risk of Chinese retaliation against US soybeans, which supports soybean prices. The risk remains because a trade war could push China toward South American suppliers.
cnbc.comJeff DanielsAug 4, 2017After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% 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.
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.
