Commerce Ministry responds to US-China tariff talks: both economic teams will agree on specific arrangements and push for prompt implementation

After 696 past bullish trade events, SOY moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.

• Sep 13, 2019China adds some US farm products for additional tariff exemption+1.1%
• Dec 31, 2020China heads to end of 2020 with big imports of US soy, wheat, sorghum and corn | 2020-12-31 | Agri-Pulse Communications, Inc.+4.4%
• May 23, 2018US seeks to more than double ag exports in talks with China | 2018-05-23 | Agri-Pulse | Agri-Pulse Communications, Inc.-0.7%
• Oct 31, 2019Exclusive: Beijing could ax extra tariffs on U.S. farm products to boost imports - China trade association chief-0.1%
• Dec 19, 2019Trade war: China buys US soybeans after fresh round of tariff waivers, but will it be the last for some time? | South China Morning Post+1.0%

After 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.

• Apr 18, 2019United States Wins Dispute Finding China’s Administration of Grain Tariff-Rate Quotas Breaches WTO Commitments | USDA-1.7%
• Dec 31, 2020China heads to end of 2020 with big imports of US soy, wheat, sorghum and corn | 2020-12-31 | Agri-Pulse Communications, Inc.+6.2%
• May 23, 2018US seeks to more than double ag exports in talks with China | 2018-05-23 | Agri-Pulse | Agri-Pulse Communications, Inc.-0.5%
• Oct 31, 2019Exclusive: Beijing could ax extra tariffs on U.S. farm products to boost imports - China trade association chief+0.9%
• Jul 2, 2026China and U.S. seek tariff rollback on farm products - TT+0.2%

Not enough comparable past events yet for a historical read.