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Reuters factbox details the U.S.-China Phase One trade deal, noting China has set no hard purchase targets. China said it will import more U.S. wheat, rice, corn, energy and other goods.
The deal is a framework rather than a binding quantity commitment.
Without hard targets, the expected lift to U.S. grain demand is uncertain, though pledges to buy wheat, corn and rice are supportive for those prices.
reuters.comDec 16, 2019After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% over 20.
After 431 past bullish trade events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), and +0.5% over 20.
After 36 past bullish trade events, Crude Oil (WTI) moved a median +1.6% over 5 sessions (69% higher; middle half -2.0% to +4.5%), and +0.7% 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.
