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USDA and USTR said the US and China have made progress implementing the agricultural provisions of the phase one deal, which took effect February 14. China made its first US hard red winter wheat purchase since 2017 and has lifted its nationwide poultry import ban threat, now limiting restrictions to affected states.
Progress on purchase commitments and market access supports US wheat and poultry export demand, with China's first HRW buy in several years a supportive signal for KWHEAT prices.
farmtario.comReutersMar 24, 2020After 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.
Not enough comparable past events yet for a historical read.
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.
