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The Environmental Working Group calculates that US trade-distorting farm subsidies reached $34 billion in 2019, well above the WTO cap of $19.1 billion, and expects the cap to be exceeded again in 2020. Several WTO members have already complained about the payments.
Possible WTO violations raise the risk of retaliatory tariffs on US farm exports, which would weigh on US feed grain and oilseed export demand and prices.
farmprogress.comBloombergJun 20, 2020After 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% over 20.
After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
After 384 past bearish trade events, Soybean Meal moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and -0.5% 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.
