# Sec. Perdue Optimistic About China Reaching Phase One Targets | Hoosier Ag Today

> USDA Secretary Perdue said China is serious about Phase One commitments, noting 50 of 57 sanitary and phytosanitary issues were resolved. China's farm imports are up more than 44% in the first three quarters of 2020, and soybeans are above $10.70, corn near $4.14 and wheat near $6.

- Date: 2020-10-27 · published 2020-10-27T12:00:00.000Z
- Category: trade · region US · magnitude low
- Page: https://feedsoft.ai/events/50505-sec-perdue-optimistic-about-china-reaching-phase-one-targets-hoosier-ag-today
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Official confidence in Chinese buying and record sales on the books supports futures for corn, soybeans and wheat, though pandemic and Hong Kong risks remain.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2020-05-13 | [Market analyst optimistic about Phase One trade deal \| Iowa Agribusiness Radio Network](https://feedsoft.ai/events/52987-market-analyst-optimistic-about-phase-one-trade-deal-iowa-agribusiness-radio.md) | -0.3% | +1.5% |
| CORN | 2020-08-02 | [China Makes (Another) Record U.S. Corn Purchase in July, But Achieving Phase One Targets May Still be a Stretch \| Farm Policy News \| Illinois](https://feedsoft.ai/events/51479-china-makes-another-record-u-s-corn-purchase-in-july-but-achieving-phase-one.md) | -1.4% | +7.2% |
| CORN | 2021-01-05 | [Phase One Ag Targets Lag, But U.S. Soybean and Corn Exports to China Surge \| Farm Policy News \| Illinois](https://feedsoft.ai/events/49008-phase-one-ag-targets-lag-but-u-s-soybean-and-corn-exports-to-china-surge-farm.md) | +3.1% | +14.6% |
| CORN | 2020-02-21 | [To meet goals, China will be 'ramping up' U.S. ag purchases, says Perdue](https://feedsoft.ai/events/54477-to-meet-goals-china-will-be-ramping-up-u-s-ag-purchases-says-perdue.md) | -3.1% | -5.1% |
| CORN | 2017-11-29 | [China imports corn as domestic prices rise – Customs Today Newspaper](https://feedsoft.ai/events/67857-china-imports-corn-as-domestic-prices-rise-customs-today-newspaper.md) | +1.6% | +7.4% |
| SOY | 2020-05-13 | [ADM still optimistic China's U.S. farm products buying will hit Phase 1 target](https://feedsoft.ai/events/52984-adm-still-optimistic-china-s-u-s-farm-products-buying-will-hit-phase-1-target.md) | -0.8% | +1.9% |
| SOY | 2020-05-13 | [Market analyst optimistic about Phase One trade deal \| Iowa Agribusiness Radio Network](https://feedsoft.ai/events/52987-market-analyst-optimistic-about-phase-one-trade-deal-iowa-agribusiness-radio.md) | -0.8% | +1.9% |
| SOY | 2021-01-05 | [Phase One Ag Targets Lag, But U.S. Soybean and Corn Exports to China Surge \| Farm Policy News \| Illinois](https://feedsoft.ai/events/49008-phase-one-ag-targets-lag-but-u-s-soybean-and-corn-exports-to-china-surge-farm.md) | +4.4% | +2.9% |

## Sources

- hoosieragtoday.com: https://www.hoosieragtoday.com/2020/10/26/sec-perdue-optimistic-about-china-reaching-phase-one-targets/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.