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Canada West Foundation's China Brief reports a China-Iran 25-year oil and gas deal and Iran lifting output to 3.9-4 million barrels per day. It also reports that China may shift feed formulas from soy and corn toward wheat and barley.
A government push to use wheat and barley in Chinese feed could reduce corn and soymeal demand while lifting barley and wheat feed use.
cwf.caApr 8, 2021Not enough comparable past events yet for a historical read.
After 310 past bearish policy events, Corn moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.6% over 20.
After 223 past bearish policy events, Soybean Meal moved a median -0.3% over 5 sessions (45% higher; middle half -2.2% to +1.2%), and -0.6% over 20.
After 175 past neutral policy events, Crude Oil (Brent) moved a median -0.9% over 5 sessions (45% higher; middle half -3.6% to +3.0%), 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.
