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The US has revived a WTO dispute over China's tariff-rate quota system for rice, wheat and corn, saying China failed to comply with a ruling in its favour. Washington has threatened countermeasures, including suspending most-favoured-nation status on some Chinese products.
China says it has taken steps to comply and asked for a compliance panel.
Threatened countermeasures and the reported shortfall of over 30% in Chinese purchases raise trade-tension risk for US grain exports, adding downside pressure on US feed grain demand.
scmp.comOrange WangJul 19, 2021After 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% over 20.
After 375 past bearish trade events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -2.0% to +1.1%), and -0.1% over 20.
After 141 past bearish trade events, Rough Rice moved a median +0.6% over 5 sessions (57% higher; middle half -2.3% to +2.4%), and -0.6% 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.
