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Reuters reports that U.S. trade representative Robert Lighthizer advised the incoming Biden administration to hold China to its Phase 1 commitments. Beijing agreed to boost purchases of U.S. agricultural and manufactured goods, energy and services by $200 billion above 2017 levels over two years.
Enforcement of the Phase 1 purchase commitments would sustain Chinese demand for U.S. farm goods, while any slippage would weigh on U.S. export prices.
reuters.comDavid LawderDec 17, 2020After 554 past neutral policy events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.4% to +1.6%), and +0.6% over 20.
After 439 past neutral policy events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.3% to +1.2%), and +1.1% 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.
