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USDA Secretary Sonny Perdue told a House committee that farmers should not plan on a third round of Market Facilitation Program payments, though one would happen if necessary. He said China remains on track to meet its phase-one commitment to buy $40 billion to $50 billion of US farm goods this year.
China's on-track purchases support US soybean and corn export demand, while the lack of a planned third aid round means farmers may need to rely on market prices.
dtnpf.comTodd NeeleyMar 4, 2020After 696 past bullish trade events, SOY moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.
After 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.
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.
