
The PBOC raised the foreign currency reserve requirement for deposits from 4% to 6%, effective 15 November 2026. Reuters estimates the change removes about $24 billion from the financial system, and the central bank said it aims to tighten foreign currency liquidity.
Tighter dollar liquidity in China can slow yuan appreciation and affect import financing for feed buyers. The direct effect on grain and oilseed prices is small.
After 991 past macro events, Chinese Yuan (CNY per USD) moved a median -0.0% over 5 sessions (49% higher; middle half -0.3% to +0.3%), 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.