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An ag economist says China's purchases of US farm goods have returned to pre-trade-war levels, with about $3.3 billion in corn and $3.6 billion in soybeans bought year to date. The Phase One purchase commitments expire at year-end, and the trade relationship's future after January is uncertain.
Uncertainty over post-Phase One tariffs and purchases could weigh on forward demand for US soybeans and corn, though historically strong Oct-Dec soybean buying supports near-term prices.
brownfieldagnews.comAug 24, 2021After 250 past neutral trade events, Soybeans moved a median +0.0% over 5 sessions (50% higher; middle half -1.4% to +1.6%), and -0.2% over 20.
After 480 past neutral trade events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.
