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A Federal Reserve FEDS note estimates that the U.S. goods deficit with China appears narrower than Chinese data imply, largely because U.S. importers underreported Chinese imports to evade tariffs. The gap implies roughly $10 billion in annual lost U.S. tariff revenue.
The note concerns trade accounting and tariff evasion rather than agricultural flows, so it has little direct effect on feed grain or oilseed prices.
federalreserve.govHunter L. Clark, Anna WongJun 21, 2021After 1,905 past policy events, Soybeans moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.8%), and +0.2% over 20.
After 1,623 past policy events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.4% to +1.5%), and +0.4% over 20.
After 734 past policy events, Soybean Meal moved a median -0.2% over 5 sessions (46% higher; middle half -1.9% to +1.6%), and -0.4% 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.
