# With ‘Phase One’ signed, but no word on third MFP payment, growers return to insurance, planting decisions

> The University of Arkansas extension economist says the U.S.-China Phase One trade deal was signed on Jan. 15, 2020, and markets reacted disappointingly. Grain, pork and cotton prices traded higher after the earlier December announcement, then fell after the signing, in a 'buy the rumor, sell the fact' pattern. The article also notes that the third MFP payment is still pending with no date.

- Date: 2020-01-24 · published 2020-01-24T12:00:00.000Z
- Category: trade · region US · magnitude medium
- Page: https://feedsoft.ai/events/55072-with-phase-one-signed-but-no-word-on-third-mfp-payment-growers-return-to
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

The signed deal was expected to boost U.S. export demand, but the price response faded after the signing. Grain prices may stay under pressure until purchases show up in export sales.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2017-01-11 | [Growth Energy Statement on China’s Decision Against U.S. DDGS Grains Producers](https://feedsoft.ai/events/72990-growth-energy-statement-on-china-s-decision-against-u-s-ddgs-grains-producers.md) | +0.0% | +1.3% |
| CORN | 2021-11-24 | [Legislators call for Biden to act on Mexico's noncompliance with biotech provisions \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/44037-legislators-call-for-biden-to-act-on-mexico-s-noncompliance-with-biotech.md) | -3.8% | -0.0% |
| CORN | 2017-06-27 | ['Do No Harm,' Declare Grain Groups, But Produce Groups Want to Slow Down Imports](https://feedsoft.ai/events/70468-do-no-harm-declare-grain-groups-but-produce-groups-want-to-slow-down-imports.md) | +4.8% | +2.4% |
| CORN | 2020-10-27 | [Trump's phase one trade deal with China and the US election \| PIIE](https://feedsoft.ai/events/50504-trump-s-phase-one-trade-deal-with-china-and-the-us-election-piie.md) | -3.7% | +6.9% |
| CORN | 2022-10-27 | [EXCLUSIVE: EXCLUSIVE Mexico to proceed with GMO corn ban, seeks international grain deals -official \| Reuters](https://feedsoft.ai/events/39106-exclusive-exclusive-mexico-to-proceed-with-gmo-corn-ban-seeks-international.md) | -2.0% | -2.6% |
| SOY | 2021-11-24 | [Legislators call for Biden to act on Mexico's noncompliance with biotech provisions \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/44037-legislators-call-for-biden-to-act-on-mexico-s-noncompliance-with-biotech.md) | -3.5% | +4.4% |
| SOY | 2024-04-17 | [USTR defends administration's response to China's miss on Phase One pledge \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/14759-ustr-defends-administration-s-response-to-china-s-miss-on-phase-one-pledge-agri.md) | +2.0% | +4.7% |
| SOY | 2020-10-27 | [Trump's phase one trade deal with China and the US election \| PIIE](https://feedsoft.ai/events/50504-trump-s-phase-one-trade-deal-with-china-and-the-us-election-piie.md) | -3.4% | +9.5% |

## Sources

- uaex.uada.edu: https://www.uaex.uada.edu/media-resources/news/2020/january2020/01-24-2020-Ark-ag-trade-issues.aspx

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.