
US Secretary of State Mike Pompeo and Chinese official Yang Jiechi met in Honolulu on June 17 to discuss US-China tensions. Pompeo said China recommitted to its phase one obligations, including $36.5 billion in US food and agricultural purchases in 2020.
The sessions produced no new agreements.
Reaffirmed Chinese commitments support expectations for US farm export demand, but the lack of new terms and repeated past pledges limit the price impact. Markets will look for actual purchases.
After 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.