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USDA's Economic Research Service released a report developing a framework for assessing China's import potential for beef, corn, pork and wheat. Key findings show Chinese domestic prices for these products in 2020 were well above import prices for US product, with pork margins reaching 200-300% due to disease-driven supply losses.
The report highlights large price gaps that could support future Chinese import demand for US beef, corn, pork and wheat if market access improves. The findings point to upside for US export demand over time.
kfgo.comRusty HalvorsonAug 26, 2022After 2,389 past report events, Soybeans moved a median 0.0% over 5 sessions (50% higher; middle half -1.6% to +1.9%), and +0.1% over 20.
After 3,207 past report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.3% to +1.7%), and +0.5% over 20.
After 1,283 past report events, Soybean Meal moved a median -0.1% over 5 sessions (47% higher; middle half -2.0% to +1.7%), 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.
