◂ Event Timeline

May 11, 2017TRADEUS

Secretary Perdue Announces Creation of Undersecretary for Trade

USDA Secretary Perdue announced a new undersecretary for trade and foreign agricultural affairs, along with a reorganization that creates a Farm Production and Conservation mission area. Rural Development agencies will now report directly to the secretary.

WHY IT MATTERS

A dedicated trade undersecretary signals a stronger push to expand US export sales, which over time supports demand for US grains and oilseeds.

AFFECTSCorn Soybeans Wheat (SRW)

SOURCE
usda.govMay 11, 2017

Price reaction & history

Cornno directional readSO FAR1d -0.8%5d -0.2%20d +2.4%

After 1,982 past trade events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.3% to +1.6%), and +0.4% over 20.

Oct 25, 2023USDA announces $2.3B for trade and food aid | Agriculture Dive-3.5%
Nov 8, 2019Secretary Perdue anxious to see USMCA ratified+0.0%
Dec 10, 2019Secretary Perdue Statement on USMCA Agreement | USDA Foreign Agricultural Service+4.3%
Aug 26, 2018USDA announces first half $12 billion ag trade aid package | 2018-08-26 | Agri-Pulse | Agri-Pulse Communications, Inc.+0.5%
Oct 11, 2019Trump announces 'phase one' trade deal with China+2.8%

Soybeansno directional readSO FAR1d -0.6%5d +1.5%20d -2.5%

After 1,802 past trade events, Soybeans moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +1.7%), and +0.7% over 20.

Oct 25, 2023USDA announces $2.3B for trade and food aid | Agriculture Dive-0.6%
Nov 8, 2019Secretary Perdue anxious to see USMCA ratified-2.7%
Dec 10, 2019Secretary Perdue Statement on USMCA Agreement | USDA Foreign Agricultural Service+2.8%
Aug 26, 2018USDA announces first half $12 billion ag trade aid package | 2018-08-26 | Agri-Pulse | Agri-Pulse Communications, Inc.-1.1%
Oct 11, 2019Trump announces 'phase one' trade deal with China+0.9%

Wheat (SRW)no directional readSO FAR1d +0.1%5d -2.4%20d +0.8%

After 1,079 past trade events, Wheat (SRW) moved a median -0.0% over 5 sessions (49% higher; middle half -1.6% to +1.7%), and +0.2% over 20.

Oct 25, 2023USDA announces $2.3B for trade and food aid | Agriculture Dive+1.7%
Dec 10, 2019Secretary Perdue Statement on USMCA Agreement | USDA Foreign Agricultural Service+2.5%
Oct 11, 2019Trump announces 'phase one' trade deal with China+4.8%
Nov 9, 2022Wheat prices continue to fall amid USDA report and cancellation of tender in Egypt+1.1%
Oct 24, 2023USDA Bolsters Investments in International Trade and Food Aid | USDA+1.8%

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.

Corn CORN · GP ▸

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Soybeans SOY · GP ▸

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