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China's National People's Congress says a food security law will be developed in 2022 to address delayed planting and extreme weather risks. An allocation of 1.6 billion yuan has been made to stabilize wheat production, and reports say China's wheat crop conditions are poor after heavy rain.
Weak Chinese wheat conditions and a push for self-sufficiency could keep China importing wheat for longer, supporting demand from Canada, which supplied 26 percent of China's wheat imports in 2021.
cwf.caMar 16, 2022After 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.
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.
