China's war on smog hits farmers

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.

• Dec 24, 2020Will China’s hog sector industrialization hike crop imports?+4.9%
• Mar 1, 2022House Ag Committee Begins Farm Bill Work With Eye on Fertilizer Prices, China Trade War Effects+4.7%
• Nov 23, 2019China Focus: Pig farmers keen on expanding stock as China drums up pork production - Xinhua | English.news.cn+1.6%
• May 11, 2018China looking to rely less on US for soybeans-0.1%
• Mar 19, 2026China restricts fertiliser exports, further crimping war-tightened supply | Reuters+1.1%

After 129 past bullish policy events, Urea moved a median -0.1% over 5 sessions (47% higher; middle half -1.3% to +2.3%), and +1.4% over 20.

• Mar 1, 2022House Ag Committee Begins Farm Bill Work With Eye on Fertilizer Prices, China Trade War Effects+19.2%
• Apr 24, 2024China Reverses Course on Urea Exports - Genesis Fertilizers-0.7%
• Oct 20, 2021China’s curbs on fertilizer exports to worsen global price shock-2.0%
• Sep 16, 2021China's urea futures hit limit up on energy regulations, soaring coal prices-0.1%
• Mar 19, 2026China restricts fertiliser exports, further crimping war-tightened supply | Reuters+2.5%