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The Obama administration announced a new WTO challenge over Beijing's barriers to US rice, wheat and corn. US officials say the policy blocked up to $3.5 billion in agricultural shipments to China.
The challenge targets a barrier to US grain exports to China, a potential source of future demand, but has limited immediate price impact.
wsj.comWilliam MauldinDec 15, 2016After 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 431 past bullish trade events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), and +0.5% over 20.
After 189 past bullish trade events, Rough Rice moved a median +0.2% over 5 sessions (52% higher; middle half -1.7% to +2.4%), and +1.0% 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.
