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USDA and the USTR cited Chinese steps under the phase one agreement, including continued imports from unaffected areas during any avian influenza outbreak and expanded beef access. China also bought 756,000 tons of corn, the largest corn sale to China since 2015, and 350,000 tons of hard red winter wheat.
Confirmed Chinese purchases of corn and wheat and expanded meat access support US grain and livestock export demand, though soybean sales have slowed as China shifts to Brazilian beans.
dtnpf.comJerry HagstromMar 23, 2020After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% over 20.
After 102 past bullish trade events, Wheat (HRW) moved a median 0.0% over 5 sessions (49% higher; middle half -2.0% to +3.5%), and -1.4% over 20.
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 78 past bullish trade events, Live Cattle moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +1.2%), 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.
