# Oilseeds daily: phase one deal dismissed as farce - Mundus Agri

> Commentary says the US-China phase one deal is viewed by some analysts as politically motivated ahead of the 2020 election, following John Bolton's memoir criticism. Soybean oil showed sharp declines early in the week while the IGC raised its 2020/21 world soybean production estimate by over 1 million tonnes to a record 364 million tonnes.

- Date: 2020-06-29 · published 2020-06-29T12:00:00.000Z
- Category: trade · region Global · magnitude low
- Page: https://feedsoft.ai/events/52703-oilseeds-daily-phase-one-deal-dismissed-as-farce-mundus-agri
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

A record world soybean crop and expected higher trade volumes add supply pressure, which weighs on soybean oil and soymeal prices for feed buyers. Trade deal uncertainty adds some downside risk to US soybean demand from China.

## Read by commodity

- SBM: neutral
- SBO: bearish ▼
- SOY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2020-02-21 | [Rapeseed: USDA damps export expectations  - Mundus Agri](https://feedsoft.ai/events/54702-rapeseed-usda-damps-export-expectations-mundus-agri.md) | -0.7% | -5.5% |
| SOY | 2024-04-17 | [USTR defends administration's response to China's miss on Phase One pledge \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/14759-ustr-defends-administration-s-response-to-china-s-miss-on-phase-one-pledge-agri.md) | +2.0% | +4.7% |
| SOY | 2020-10-27 | [Trump's phase one trade deal with China and the US election \| PIIE](https://feedsoft.ai/events/50504-trump-s-phase-one-trade-deal-with-china-and-the-us-election-piie.md) | -3.4% | +9.5% |
| SOY | 2024-07-10 | [Oilseed industry worries rise in imported feedstock will undermine U.S. producers \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/15203-oilseed-industry-worries-rise-in-imported-feedstock-will-undermine-u-s.md) | -6.1% | -11.5% |
| SOY | 2021-12-23 | [China to fall short on promises to U.S. as trade deal ends](https://feedsoft.ai/events/14969-china-to-fall-short-on-promises-to-u-s-as-trade-deal-ends.md) | -0.1% | +6.4% |
| SBM | 2020-03-25 | [China's purchase of US soybeans spike in Jan-Feb under phase one deal](https://feedsoft.ai/events/53995-china-s-purchase-of-us-soybeans-spike-in-jan-feb-under-phase-one-deal.md) | -3.2% | -13.2% |
| SBM | 2026-01-16 | [China-Canada deal could lift some US feed prices \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/21163-china-canada-deal-could-lift-some-us-feed-prices-agri-pulse-communications-inc.md) | +1.2% | +5.4% |
| SBM | 2017-04-06 | [US Agriculture Bets the Farm on Chinese Soy Demand](https://feedsoft.ai/events/71362-us-agriculture-bets-the-farm-on-chinese-soy-demand.md) | +0.9% | +1.4% |

## Sources

- mundus-agri.eu: https://www.mundus-agri.eu/news/oilseeds-daily-phase-deal-dismissed-farce.n23343.html

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