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A USDA Economic Research Service study finds that removing China's domestic price wedges would raise its agricultural imports over 5 to 10 years. Estimated increases are 91% for corn and 249% for wheat, with pork rising 402%.
Both corn and wheat are subject to tariff-rate quotas that could limit imports.
If China reduces these trade barriers, import demand for corn and wheat would rise and support world prices. The effect is long-term and constrained by the tariff-rate quotas.
hpj.comHPJ StaffDec 1, 2022
ers.usda.govNov 29, 2022After 17 past bullish policy events, Live Cattle moved a median -0.0% over 5 sessions (47% higher; middle half -1.2% to +0.9%), and +1.0% over 20.
After 182 past bullish policy events, Wheat (SRW) moved a median +0.1% over 5 sessions (52% higher; middle half -1.9% to +1.4%), and -0.3% over 20.
After 318 past bullish policy events, Corn moved a median -0.1% over 5 sessions (48% higher; middle half -1.4% to +1.5%), and -0.2% over 20.
After 37 past bullish policy events, Lean Hogs moved a median +0.0% over 5 sessions (51% higher; middle half -2.8% to +0.9%), and +0.2% 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.
