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The WTO will examine U.S. claims that China's tariff-rate quotas unfairly restrict imports of U.S. corn, rice and wheat. The U.S. made a second request for a dispute panel on September 22, and the panel is established but not yet composed.
The dispute adds uncertainty to U.S. grain exports to China, which could weigh on U.S. corn, rice and wheat prices. A final ruling is likely months away, so the near-term price effect is limited.
texasagriculture.texasfarmbureau.orgOct 6, 2017After 683 past bearish trade events, CORN moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% over 20.
After 141 past bearish trade events, RICE moved a median +0.6% over 5 sessions (57% higher; middle half -2.3% to +2.4%), and -0.6% over 20.
After 375 past bearish trade events, WHEAT moved a median -0.2% over 5 sessions (47% higher; middle half -2.0% to +1.1%), and -0.1% 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.
