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USDA announced details for about $6.3 billion of the $12 billion trade aid package for producers hurt by disputes with China, Mexico, the EU and Turkey. The payments cover roughly half of the potential direct aid for soybeans, corn, wheat, cotton, sorghum, dairy and pork.
A second tranche will be decided in December based on trade developments.
Direct payments cushion producer losses from lost export demand and can keep acreage and output steady. Soybeans are expected to be the largest beneficiaries, and the December review could shift the timing of future support.
agri-pulse.comBill TomsonAug 26, 2018After 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.
