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China's Ministry of Commerce issued a final ruling imposing anti-dumping duties of 42.2% to 53.7% and anti-subsidy tariffs of 11.2% to 12% on US distillers dried grains with and without solubles. The duties will remain in effect for five years, and USDA reported US DDGS exports fell 9% in the first 11 months of 2016.
The five-year duties effectively shut China out of US DDGS, a major feed ingredient, which is bearish for DDGS prices and US corn demand.
dtnpf.comMary KennedyJan 11, 2017Not enough comparable past events yet for a historical read.
After 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.
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.
