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A Financial Post column argues that a planned US-Japan bilateral trade deal after the US exit from the TPP would leave Canada at a tariff disadvantage in Japan. It notes Australia has a free-trade agreement with Japan and the EU is close to one.
Trade diversion risk to Canadian agri-food exports in Japan is a longer-term consideration for Canadian grain and oilseed buyers, with limited immediate price effect.
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.