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A new U.S. agriculture trade chief said he wants to diversify export buyers beyond China while keeping China as an important customer. U.S. Census data showed record 2022 farm exports of $213 billion, including $40.85 billion to China.
Diversification goals signal a long-term policy push, but they do not change near-term demand. Price impact is limited.
reuters.comDavid LawderFeb 11, 2023After 1,905 past policy events, Soybeans moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.8%), and +0.2% over 20.
After 1,623 past policy events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.4% to +1.5%), and +0.4% over 20.
After 734 past policy events, Soybean Meal moved a median -0.2% over 5 sessions (46% higher; middle half -1.9% to +1.6%), 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.
