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Chinese grain buyers say they are still waiting for official rules on how to implement the Phase 1 deal, including how the $36.5 billion farm purchase target will be allocated across commodities. China imported $24.0 billion of US farm products in 2017, with soybeans at $12.3 billion.
Uncertainty over allocation and implementation delays near-term Chinese buying of US feed grains and soybeans, keeping export demand support limited until guidance arrives.
dtnpf.comLin TanJan 27, 2020After 554 past neutral policy events, SOY moved a median +0.0% over 5 sessions (51% higher; middle half -1.4% to +1.6%), and +0.6% over 20.
After 439 past neutral policy events, CORN moved a median +0.1% over 5 sessions (51% higher; middle half -1.3% to +1.2%), and +1.1% 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.
