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China agreed to lift its four-year ban on US poultry imports in exchange for US acceptance of Chinese cooked chicken and seafood. U.S. poultry processor shares rose sharply after the announcement.
Reopening the Chinese market to US chicken expands export demand and could lift US chicken prices, supporting feed demand for US corn and soymeal.
foodprocessing.comNov 1, 2019Not enough comparable past events yet for a historical read.
After 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 342 past bullish trade events, Soybean Meal moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% 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.
