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USDA Secretary Perdue called the signed Phase One agreement a bonanza for American agriculture, saying it levels the playing field for US farmers. The deal includes Chinese commitments on additional purchases and a dispute resolution system, and the US agreed to modify Section 301 tariffs.
The official endorsement reinforces expectations of higher US farm export demand, but the statement contains no volumes or timing, so its price effect is mainly sentiment.
usda.govJan 15, 2020After 356 past bullish policy events, Soybeans moved a median +0.1% over 5 sessions (53% higher; middle half -1.2% to +2.3%), and -0.9% over 20.
After 318 past bullish policy events, Corn moved a median -0.1% over 5 sessions (48% higher; middle half -1.4% to +1.5%), and -0.2% 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.
