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The American Farm Bureau Federation reports that the second round of Market Facilitation Program payments has reached nearly $11 billion as of Jan. 6, 2020.
The third tranche was expected to depend on whether China resumed normal purchases of U.S. farm goods. U.S. export sales to China still lag pre-tariff levels, and China's $40-50 billion purchase commitment remains uncertain.
If China's purchases stay below normal, the final MFP tranche supports farm income without lifting export demand. Lagging Chinese buying keeps U.S. soybean and grain export prices under pressure.
fb.orgJohn Newton, Ph.D.Jan 9, 2020After 250 past neutral trade events, Soybeans moved a median +0.0% over 5 sessions (50% higher; middle half -1.4% to +1.6%), 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.
