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Payments to US farmers reached an all-time high ahead of the election. China's purchases of US farm goods remain below the $36.5 billion Phase 1 target, though increased corn and soybean buying has helped lift prices.
Government payments support farm income and sustained acreage, while the shortfall against the China target leaves demand uncertain for corn and soybeans.
reuters.comMark WeinraubOct 19, 2020After 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.
After 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.
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.
