United States Wins WTO Dispute Finding China Provides Excessive Government Support to its Grain Producers

After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% over 20.

• Apr 18, 2019United States Wins Dispute Finding China’s Administration of Grain Tariff-Rate Quotas Breaches WTO Commitments | USDA-1.7%
• Dec 20, 2024Mexico GM Corn Ban Dispute Ends In Win For U.S. Corn Exporters - U.S. Grains & BioProducts Council+1.5%
• Jul 23, 2021China’s grain auction and meat production patterns point to rising imports-1.1%
• Dec 20, 2024United States Prevails in USMCA Dispute on Biotech Corn+1.5%
• Jun 7, 2018Chart Of Note: GIAF Exports To FTA Partners Stay Strong In 2017/2018 - U.S. Grains & BioProducts Council-1.2%

After 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.

• Aug 26, 2019Daily US grain report: grain futures lifted by apparent US-China moves to restart trade talks | The Poultry Site+1.6%
• Jun 4, 2019Exclusive: Pile drive - China expected to divert outstanding U.S. soybean cargoes into reserves-2.3%
• Jan 15, 2020China to purchase $36 bil of US agricultural products in 2020, $43 bil in 2021: governments | S&P Global-1.6%
• Jun 20, 2021China Makes Large U.S. Soy Purchase, While Granting Domestic Subsidies to Its Grain Farmers-4.7%
• Nov 7, 2017China to pledge more US soy imports during Trump visit | The Western Producer-2.1%

After 431 past bullish trade events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), and +0.5% over 20.

• Apr 18, 2019United States Wins Dispute Finding China’s Administration of Grain Tariff-Rate Quotas Breaches WTO Commitments | USDA-1.1%
• Jul 23, 2021China’s grain auction and meat production patterns point to rising imports-0.4%
• Nov 27, 2017Feed Grains: Russian barley exports rising | The Western Producer+0.4%
• Aug 26, 2019Daily US grain report: grain futures lifted by apparent US-China moves to restart trade talks | The Poultry Site+0.9%
• May 20, 2021Brisk exports cut into grain, oilseed stocks | The Western Producer-2.5%

After 224 past neutral trade events, Soybean Meal moved a median -0.2% over 5 sessions (43% higher; middle half -1.7% to +1.2%), and -0.2% over 20.

• Apr 24, 2019Argentina touts its soymeal in China, seeking import approval | The Western Producer-1.7%
• Mar 9, 2020Grain Journal | China Feed Demand Down, According to Latest USDA…-1.8%
• May 15, 2017USSEC Provides Soy Trade Price Risk Management Training to Chinese Soy Crushers and Feed Millers - U.S. Soybean Export Council-0.9%
• Jun 4, 2019Exclusive: Pile drive - China expected to divert outstanding U.S. soybean cargoes into reserves-2.2%
• Nov 23, 2017China's pig farmers go north, upending world's top meat, grain market+0.0%