Senior U.S. and Chinese diplomats said agricultural engagement should remain strong despite broader tensions. The comments came at the 2023 Annual US-China Agriculture Roundtable in St. Louis.
U.S. agricultural exports to China reached a record $40.9 billion in 2022.
Continued agricultural engagement supports ongoing U.S. export flows to China, but no specific policy change or purchase commitment was announced. The price effect is limited.
After 152 past geopolitics events, Soybeans moved a median +0.1% over 5 sessions (53% higher; middle half -1.6% to +2.1%), and +0.8% over 20.
After 464 past geopolitics events, Corn moved a median +0.3% over 5 sessions (54% higher; middle half -1.6% to +2.5%), and +0.5% over 20.
After 62 past geopolitics events, Soybean Meal moved a median -0.1% over 5 sessions (47% higher; middle half -2.4% to +3.0%), and -0.4% 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.