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China will not raise its grain import quotas to meet the US trade deal, according to Caixin. Purchases not covered by the quotas made up over half of China's agricultural buying from the US before the trade war.
Without higher quotas, China's US grain purchases must come through non-quota channels, limiting the volume of US corn and wheat China can take and capping export demand support.
reuters.comJan 7, 2020After 310 past bearish policy events, CORN moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.6% over 20.
After 122 past bearish policy events, WHEAT moved a median -0.3% over 5 sessions (44% higher; middle half -1.9% to +1.2%), and +0.4% over 20.
After 553 past neutral policy events, SOY moved a median +0.1% over 5 sessions (51% higher; middle half -1.4% to +1.6%), and +0.6% 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.
