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China says it has made structural changes to its tariff rate quota system for corn, wheat and rice, and appears likely to fill its TRQs this year. The US is weighing whether to tell the WTO that China is compliant before a deadline.
Chinese TRQ fills increase demand for imported grain, supporting corn, wheat and rice prices, while uncertainty over compliance adds trade-policy risk.
agri-pulse.comBill TomsonNov 2, 2020After 318 past bullish policy events, Corn moved a median -0.1% over 5 sessions (48% higher; middle half -1.4% to +1.5%), and -0.2% over 20.
After 182 past bullish policy events, Wheat (SRW) moved a median +0.1% over 5 sessions (52% higher; middle half -1.9% to +1.4%), and -0.3% over 20.
After 168 past bullish policy events, Rough Rice moved a median +0.8% over 5 sessions (57% higher; middle half -1.7% to +2.1%), 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.
